Insider Selling: Everpure (NYSE:P) Director Sells $698,304.82 in Stock

Everpure, Inc. (NYSE:P) Director Susan J.S. Taylor sold 8,543 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director owned 94,608 shares of the company’s stock, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Everpure Trading Down 8.1%

Shares of P stock opened at $70.80 on Thursday. The company has a market capitalization of $23.53 billion, a price-to-earnings ratio of 107.28, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. Everpure, Inc. has a 52 week low of $53.43 and a 52 week high of $100.59. The stock has a 50-day moving average of $77.22.

Everpure (NYSE:P) last released its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 35.2% on a year-over-year basis. As a group, analysts expect that Everpure, Inc. will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Everpure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC boosted its holdings in shares of Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock worth $27,000 after acquiring an additional 199 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after purchasing an additional 244 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Everpure by 2,884.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock worth $29,000 after purchasing an additional 375 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Everpure during the 3rd quarter worth about $29,000. Finally, Reflection Asset Management bought a new position in Everpure in the 4th quarter worth about $32,000. Institutional investors own 83.42% of the company’s stock.

Key Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure’s earlier earnings report was strong, with EPS of $0.47 beating estimates and revenue of $1.05 billion topping expectations, while revenue grew 35.2% year over year. That underlying business performance continues to support the stock.
• Positive Sentiment: Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $96.50, suggesting Wall Street still sees upside from current levels.
• Positive Sentiment: Everpure also got a sector lift after reports that IBM’s revenue warning pointed to enterprise IT spending shifting toward servers and memory, which helped push related infrastructure stocks higher. Everpure and NetApp Stocks Trade Up, What You Need To Know
• Neutral Sentiment: One article highlighted Everpure among hardware and infrastructure stocks that have recently outperformed after strong quarterly results, reinforcing the view that the company is benefiting from favorable industry trends. Q1 earnings outperformers: Hewlett Packard Enterprise (NYSE:HPE) and the rest of the hardware & infrastructure stocks
• Negative Sentiment: Recent insider selling may be weighing on shares, including Director Susan J.S. Taylor’s sale of 8,543 shares and insider John Colgrove’s sale of 100,000 shares. Although the Colgrove trade was made under a pre-arranged 10b5-1 plan, heavy insider selling can still unsettle investors. Insider Selling: Everpure (NYSE:P) Insider Sells 100,000 Shares

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Lake Street Capital increased their price objective on Everpure from $90.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings initiated coverage on Everpure in a research note on Monday, April 20th. They issued a “hold (c)” rating on the stock. TD Cowen reaffirmed a “buy” rating on shares of Everpure in a research report on Wednesday, July 1st. Citigroup downgraded Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a research note on Thursday, May 14th. Finally, Northland Securities set a $90.00 price objective on Everpure in a report on Thursday, May 28th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Everpure presently has an average rating of “Moderate Buy” and a consensus target price of $96.50.

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.