Everpure, Inc. $P Stock Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in Everpure, Inc. (NYSE:P) by 24.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,809 shares of the company’s stock after buying an additional 35,079 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.05% of Everpure worth $22,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Paradigm Capital Management Inc. NY acquired a new position in Everpure in the 2nd quarter valued at about $2,127,000. Nykredit A S purchased a new stake in Everpure during the second quarter worth about $9,412,000. Wellington Management Group LLP acquired a new stake in shares of Everpure during the second quarter worth about $2,192,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Everpure during the second quarter worth about $814,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Everpure during the second quarter worth about $25,525,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In related news, CAO Mona Chu sold 5,112 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $151.40, for a total value of $773,956.80. Following the sale, the chief accounting officer owned 125,982 shares of the company’s stock, valued at $19,073,674.80. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 18,267 shares of Everpure stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $155.24, for a total transaction of $2,835,769.08. Following the completion of the transaction, the insider owned 270,095 shares of the company’s stock, valued at $41,929,547.80. This represents a 6.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 710,186 shares of company stock valued at $89,868,120. 5.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Everpure from $133.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, September 24th. Raymond James Financial upped their target price on shares of Everpure from $122.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, September 25th. Weiss Ratings upgraded shares of Everpure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Citigroup raised their price target on shares of Everpure from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Finally, Evercore boosted their price target on shares of Everpure from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Everpure has a consensus rating of “Moderate Buy” and a consensus target price of $148.65.

Everpure Stock Up 4.4%

P stock opened at $106.46 on Thursday. The firm has a market cap of $35.48 billion, a price-to-earnings ratio of 125.90, a P/E/G ratio of 3.40 and a beta of 1.43. The firm has a 50-day moving average of $120.59. Everpure, Inc. has a 1 year low of $56.78 and a 1 year high of $157.57.

Everpure (NYSE:P) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter. The company’s revenue was up 37.7% on a year-over-year basis. On average, equities analysts anticipate that Everpure, Inc. will post 0.95 earnings per share for the current fiscal 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.