Geode Capital Management LLC Has $515.97 Million Stock Position in Everpure, Inc. $P

Geode Capital Management LLC boosted its stake in shares of Everpure, Inc. (NYSE:P) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,716,158 shares of the company’s stock after buying an additional 207,317 shares during the period. Geode Capital Management LLC’s holdings in Everpure were worth $515,972,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of P. Smartleaf Asset Management LLC raised its holdings in shares of Everpure by 40.1% in the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 134 shares during the last quarter. One Capital Management LLC raised its holdings in shares of Everpure by 1.0% in the third quarter. One Capital Management LLC now owns 14,750 shares of the company’s stock valued at $1,236,000 after purchasing an additional 141 shares during the last quarter. State of Wyoming raised its holdings in shares of Everpure by 10.3% in the third quarter. State of Wyoming now owns 1,673 shares of the company’s stock valued at $140,000 after purchasing an additional 156 shares during the last quarter. GraniteShares Advisors LLC raised its holdings in shares of Everpure by 2.3% in the fourth quarter. GraniteShares Advisors LLC now owns 6,918 shares of the company’s stock valued at $464,000 after purchasing an additional 157 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Everpure by 2.4% in the fourth quarter. GAMMA Investing LLC now owns 6,938 shares of the company’s stock valued at $465,000 after purchasing an additional 164 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Everpure

In related news, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $85.93, for a total value of $17,186,000.00. Following the completion of the transaction, the insider directly owned 6,625,221 shares of the company’s stock, valued at approximately $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 534,265 shares of company stock valued at $41,321,234 over the last three months. 5.10% of the stock is currently owned by company insiders.

Everpure Price Performance

NYSE:P opened at $79.31 on Monday. Everpure, Inc. has a 1-year low of $50.20 and a 1-year high of $100.59. The firm has a market capitalization of $26.21 billion, a P/E ratio of 120.17, a PEG ratio of 5.64 and a beta of 1.44.

Everpure (NYSE:P) last released its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same period last year, the business earned $0.29 earnings per share. The firm’s revenue was up 35.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Everpure, Inc. will post 0.73 EPS for the current year.

Everpure News Roundup

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported Q1 earnings of $0.47 per share, ahead of the $0.40 consensus, with revenue of $1.05 billion also topping estimates and rising 35.2% year over year. Everpure (P) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management said AI-led storage demand, enterprise wins, and subscription growth helped drive the quarter, reinforcing the growth story for Everpure’s data storage business. Everpure Q1 Earnings Beat on Strong AI-Led Storage Demand, Sales Jump Y/Y
• Positive Sentiment: Several analysts responded favorably after the report, including JPMorgan raising its price target to $92 and Needham reiterating a buy rating with a $100 target, suggesting Wall Street sees continued upside. Analyst rating updates
• Neutral Sentiment: The company’s full-year revenue guidance came in above expectations, but next-quarter revenue guidance disappointed, which helped explain the stock’s volatility after earnings. P Q1 Deep Dive: Supply Chain Dynamics and Pricing Power Shape Results and Guidance
• Negative Sentiment: Investors were also disappointed by weaker free cash flow and cautious near-term guidance, which triggered a sharp post-earnings pullback despite the beat. Everpure beats on revenue and earnings but free cash flow drop sends shares lower

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on P. Piper Sandler reiterated an “overweight” rating on shares of Everpure in a report on Thursday. Morgan Stanley lifted their price objective on shares of Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays lifted their price objective on shares of Everpure from $81.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday. UBS Group lifted their price objective on shares of Everpure from $63.00 to $70.00 and gave the company a “sell” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.32.

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.