Everpure, Inc. $P Stock Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in shares of Everpure, Inc. (NYSE:P) by 32.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 560,713 shares of the company’s stock after purchasing an additional 135,912 shares during the period. Russell Investments Group Ltd.’s holdings in Everpure were worth $73,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Continuum Advisory LLC purchased a new stake in shares of Everpure in the second quarter worth approximately $29,000. Fortitude Family Office LLC boosted its position in shares of Everpure by 49.0% during the third quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock valued at $47,000 after buying an additional 119 shares during the last quarter. Provenance Wealth Advisors LLC bought a new stake in Everpure during the third quarter worth $47,000. Reyes Financial Architecture Inc. bought a new stake in Everpure during the third quarter worth $48,000. Finally, Root Financial Partners LLC purchased a new stake in Everpure in the 3rd quarter valued at $61,000. 83.42% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Mona Chu sold 5,112 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $151.40, for a total value of $773,956.80. Following the transaction, the chief accounting officer directly owned 125,982 shares of the company’s stock, valued at approximately $19,073,674.80. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $100.77, for a total transaction of $10,077,000.00. Following the transaction, the insider owned 2,365,000 shares of the company’s stock, valued at approximately $238,321,050. The trade was a 4.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 745,371 shares of company stock worth $92,333,246. 5.10% of the stock is owned by insiders.

Latest Everpure News

Here’s some of the latest news about P:

• Positive Sentiment: Guggenheim reaffirmed its “buy” rating and $215 price target, while Raymond James raised its target to $144 from $140—both supportive of the bullish outlook. Read More. | Read More.
• Positive Sentiment: A report highlights a major cloud-operator win, potentially strengthening Everpure’s prospects with large hyperscalers. The supplied article excerpt offers limited detail about the deal. Read More.
• Neutral Sentiment: A report says Everpure shares fell sharply alongside Fabrinet, but the provided information does not explain the move or identify a company-specific catalyst. Read More.

Wall Street Analyst Weigh In

P has been the topic of several recent analyst reports. TD Cowen raised their price objective on Everpure from $100.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Piper Sandler upped their target price on shares of Everpure from $133.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. Wall Street Zen downgraded shares of Everpure from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. Evercore increased their target price on shares of Everpure from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Everpure from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.25.

Everpure Trading Down 2.1%

Shares of P traded down $2.31 on Friday, reaching $107.80. 2,981,912 shares of the company’s stock traded hands, compared to its average volume of 3,007,480. The stock has a market cap of $35.92 billion, a PE ratio of 147.66, a PEG ratio of 3.67 and a beta of 1.43. The stock’s 50 day simple moving average is $121.14 and its two-hundred day simple moving average is $96.00. Everpure, Inc. has a 52-week low of $56.78 and a 52-week high of $157.57.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The business had revenue of $1.19 billion for the quarter. The company’s quarterly revenue was up 37.7% compared to the same quarter last year. Analysts forecast that Everpure, Inc. will post 0.95 earnings per share for the current year.

Everpure Profile

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads. The company’s portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.