Everpure (NYSE:P) Insider John Colgrove Sells 100,000 Shares of Stock

Everpure, Inc. (NYSE:P) insider John Colgrove sold 100,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $79.82, for a total value of $7,982,000.00. Following the completion of the transaction, the insider directly owned 2,565,000 shares in the company, valued at $204,738,300. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Colgrove also recently made the following trade(s):

• On Friday, June 12th, John Colgrove sold 99,900 shares of Everpure stock. The shares were sold at an average price of $71.04, for a total value of $7,096,896.00.
• On Wednesday, June 10th, John Colgrove sold 100 shares of Everpure stock. The stock was sold at an average price of $70.00, for a total value of $7,000.00.
• On Tuesday, June 2nd, John Colgrove sold 10,280 shares of Everpure stock. The stock was sold at an average price of $85.32, for a total transaction of $877,089.60.
• On Monday, May 11th, John Colgrove sold 200,000 shares of Everpure stock. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00.
• On Thursday, May 7th, John Colgrove sold 29,108 shares of Everpure stock. The shares were sold at an average price of $75.31, for a total transaction of $2,192,123.48.
• On Wednesday, May 6th, John Colgrove sold 27,578 shares of Everpure stock. The stock was sold at an average price of $75.01, for a total transaction of $2,068,625.78.
• On Tuesday, May 5th, John Colgrove sold 77,579 shares of Everpure stock. The shares were sold at an average price of $75.12, for a total transaction of $5,827,734.48.
• On Friday, April 24th, John Colgrove sold 28,935 shares of Everpure stock. The shares were sold at an average price of $70.01, for a total transaction of $2,025,739.35.
• On Thursday, April 23rd, John Colgrove sold 71,959 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total transaction of $5,041,447.54.
• On Wednesday, April 22nd, John Colgrove sold 82,266 shares of Everpure stock. The stock was sold at an average price of $70.50, for a total transaction of $5,799,753.00.

Everpure Stock Performance

Shares of Everpure stock opened at $76.93 on Wednesday. The stock has a 50-day moving average price of $77.29. Everpure, Inc. has a fifty-two week low of $53.43 and a fifty-two week high of $100.59. The firm has a market capitalization of $25.57 billion, a P/E ratio of 116.56, a P/E/G ratio of 4.26 and a beta of 1.45.

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

Key Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Shares rose after reports that IBM’s revenue warning pointed to enterprise IT budgets shifting aggressively toward server and memory purchases, which helped lift Everpure along with other storage and infrastructure names. Everpure and NetApp Stocks Trade Up, What You Need To Know
• Positive Sentiment: Everpure already has solid fundamental momentum from its last earnings report, beating EPS and revenue estimates and posting 35.2% year-over-year revenue growth, which supports the stock’s higher valuation.
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average price target of $96.50, suggesting Wall Street still sees upside from current levels.
• Negative Sentiment: Recent insider selling by Director Susan J. S. Taylor and insider John Colgrove may weigh on sentiment, as both disclosed notable share sales over the past few days. Everpure (NYSE:P) Director Sells $698,304.82 in Stock

Hedge Funds Weigh In On Everpure

A number of hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Everpure in the 4th quarter worth approximately $265,327,000. Atreides Management LP acquired a new stake in Everpure in the 2nd quarter valued at approximately $204,552,000. Polar Capital Holdings Plc increased its holdings in Everpure by 90.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock valued at $237,278,000 after purchasing an additional 1,345,207 shares during the last quarter. AQR Capital Management LLC raised its position in Everpure by 62.7% in the fourth quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock valued at $228,820,000 after purchasing an additional 1,315,351 shares during the period. Finally, Turiya Advisors Asia Ltd purchased a new stake in Everpure in the fourth quarter valued at approximately $67,010,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

P has been the topic of several research analyst reports. Barclays lifted their price objective on Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. TD Cowen restated a “buy” rating on shares of Everpure in a research report on Wednesday, July 1st. Piper Sandler reaffirmed an “overweight” rating on shares of Everpure in a research note on Thursday, May 28th. Morgan Stanley lifted their price target on Everpure from $84.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Finally, DA Davidson set a $100.00 price target on Everpure in a research report on Wednesday, July 1st. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Everpure currently has an average rating of “Moderate Buy” and an average target price of $96.50.

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.