Goldman Sachs Group Inc. Increases Position in Everpure, Inc. $P

Goldman Sachs Group Inc. increased its stake in Everpure, Inc. (NYSE:P) by 20.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,554,240 shares of the company’s stock after acquiring an additional 265,846 shares during the period. Goldman Sachs Group Inc. owned about 0.47% of Everpure worth $104,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Everpure in the 4th quarter worth $265,327,000. Arrowstreet Capital Limited Partnership lifted its stake in Everpure by 786.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company’s stock worth $337,554,000 after purchasing an additional 3,573,493 shares during the last quarter. Atreides Management LP bought a new stake in Everpure in the second quarter worth $204,552,000. Polar Capital Holdings Plc lifted its stake in Everpure by 90.5% in the third quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock worth $237,278,000 after purchasing an additional 1,345,207 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Everpure by 158.4% in the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the company’s stock worth $110,473,000 after purchasing an additional 1,188,126 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Everpure

In other news, insider John Colgrove sold 10,280 shares of Everpure stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $85.32, for a total transaction of $877,089.60. Following the sale, the insider owned 6,614,941 shares of the company’s stock, valued at approximately $564,386,766.12. The trade was a 0.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 544,545 shares of company stock valued at $42,198,324. Company insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on P shares. JPMorgan Chase & Co. boosted their price target on shares of Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Barclays boosted their price target on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Morgan Stanley boosted their price target on shares of Everpure from $84.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Guggenheim boosted their price target on shares of Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Wells Fargo & Company boosted their price target on shares of Everpure from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.32.

Everpure Stock Performance

P opened at $69.93 on Wednesday. The company has a market cap of $23.11 billion, a PE ratio of 105.95, a price-to-earnings-growth ratio of 4.17 and a beta of 1.44. Everpure, Inc. has a 52-week low of $50.20 and a 52-week high of $100.59.

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

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.