Board of the Pension Protection Fund Trims Position in Everpure, Inc. $PSTG

Board of the Pension Protection Fund lowered its position in shares of Everpure, Inc. (NYSE:PSTG) by 96.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 500 shares of the technology company’s stock after selling 12,300 shares during the quarter. Board of the Pension Protection Fund’s holdings in Everpure were worth $34,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Everpure during the 2nd quarter worth $225,203,000. Arrowstreet Capital Limited Partnership grew its position in shares of Everpure by 786.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock valued at $337,554,000 after purchasing an additional 3,573,493 shares during the period. Atreides Management LP purchased a new stake in shares of Everpure in the second quarter valued at $204,552,000. Polar Capital Holdings Plc increased its stake in Everpure by 90.5% in the third quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the technology company’s stock valued at $237,278,000 after purchasing an additional 1,345,207 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Everpure by 1,560.9% in the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock valued at $77,368,000 after purchasing an additional 1,262,758 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research analyst reports. Lake Street Capital raised their price target on Everpure from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Evercore reiterated an “outperform” rating on shares of Everpure in a report on Wednesday, December 3rd. Wall Street Zen raised shares of Everpure from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. TD Cowen restated a “buy” rating on shares of Everpure in a report on Wednesday, December 3rd. Finally, Piper Sandler reaffirmed a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.53.

Everpure Price Performance

Everpure stock opened at $62.62 on Friday. The firm has a 50 day simple moving average of $68.77 and a 200-day simple moving average of $77.50. The stock has a market capitalization of $20.67 billion, a PE ratio of 113.85, a price-to-earnings-growth ratio of 4.89 and a beta of 1.29. Everpure, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59.

Everpure (NYSE:PSTG) last announced its earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, analysts forecast that Everpure, Inc. will post 0.44 earnings per share for the current fiscal year.

Everpure Company Profile

Everpure, Inc (NYSE: PSTG), formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.