Assenagon Asset Management S.A. Sells 74,896 Shares of Everpure, Inc. $PSTG

Assenagon Asset Management S.A. cut its holdings in Everpure, Inc. (NYSE:PSTG) by 37.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 123,337 shares of the technology company’s stock after selling 74,896 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Everpure were worth $8,265,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PSTG. Citigroup dropped their target price on Everpure from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Wells Fargo & Company reduced their price target on Everpure from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everpure in a research note on Thursday, January 22nd. Barclays raised their price objective on shares of Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Finally, Piper Sandler reiterated 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Everpure has a consensus rating of “Moderate Buy” and an average price target of $94.53.

Everpure Stock Down 4.8%

Everpure stock opened at $59.04 on Friday. The company has a market capitalization of $19.49 billion, a PE ratio of 107.35, a PEG ratio of 4.40 and a beta of 1.29. Everpure, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The firm’s fifty day moving average is $67.82 and its 200 day moving average is $76.96.

Everpure (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company posted $0.45 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that Everpure, Inc. will post 0.44 EPS for the current fiscal year.

Everpure 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.