Everpure, Inc. $P Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Everpure, Inc. (NYSE:P) by 507.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,124 shares of the company’s stock after purchasing an additional 40,207 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Everpure were worth $3,225,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Leonteq Securities AG acquired a new stake in shares of Everpure in the fourth quarter valued at $718,000. ABN Amro Investment Solutions raised its stake in shares of Everpure by 82.9% in the fourth quarter. ABN Amro Investment Solutions now owns 156,730 shares of the company’s stock valued at $10,502,000 after acquiring an additional 71,054 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Everpure by 15.0% in the fourth quarter. IFP Advisors Inc now owns 9,453 shares of the company’s stock valued at $633,000 after acquiring an additional 1,232 shares in the last quarter. Intrust Bank NA raised its stake in shares of Everpure by 10.4% in the fourth quarter. Intrust Bank NA now owns 8,215 shares of the company’s stock valued at $550,000 after acquiring an additional 777 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Everpure by 89.9% in the fourth quarter. Banque Cantonale Vaudoise now owns 1,160 shares of the company’s stock valued at $78,000 after acquiring an additional 549 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Everpure Stock Performance

Shares of P stock opened at $87.39 on Friday. The stock has a market cap of $28.88 billion, a price-to-earnings ratio of 158.89, a PEG ratio of 5.91 and a beta of 1.44. Everpure, Inc. has a 1 year low of $50.20 and a 1 year high of $100.59.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $0.45 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Analysts predict that Everpure, Inc. will post 0.72 earnings per share for the current year.

Insider Activity

In related news, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the transaction, the insider owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 534,265 shares of company stock worth $41,321,234 over the last 90 days. Company insiders own 5.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on P shares. Citigroup cut Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Thursday, May 14th. Northland Securities raised Everpure from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $77.00 to $81.00 in a report on Monday, March 9th. Piper Sandler reaffirmed a “buy” rating on shares of Everpure in a report on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on Everpure from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Everpure in a report on Monday, February 23rd. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Everpure currently has an average rating of “Moderate Buy” and a consensus target price of $93.21.

About Everpure

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company’s Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array.