Bank of New York Mellon Corp Lowers Position in Everpure, Inc. $P

Bank of New York Mellon Corp cut its holdings in Everpure, Inc. (NYSE:P) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,151,520 shares of the company’s stock after selling 223,172 shares during the quarter. Bank of New York Mellon Corp’s holdings in Everpure were worth $144,173,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its stake in Everpure by 69.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company’s stock worth $146,798,000 after acquiring an additional 717,834 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Everpure by 96.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company’s stock worth $2,612,000 after purchasing an additional 15,286 shares in the last quarter. AlTi Global Inc. bought a new position in Everpure in the third quarter worth about $2,517,000. ARK Investment Management LLC raised its holdings in Everpure by 12.6% in the third quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock worth $29,090,000 after purchasing an additional 38,768 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Everpure by 2.0% in the third quarter. Victory Capital Management Inc. now owns 2,572,719 shares of the company’s stock worth $202,563,000 after purchasing an additional 50,566 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on P. Citigroup downgraded shares of Everpure from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Thursday, May 14th. Northland Securities set a $90.00 target price on shares of Everpure in a report on Thursday, May 28th. Wells Fargo & Company boosted their target price on shares of Everpure from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Lake Street Capital boosted their target price on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Everpure currently has an average rating of “Moderate Buy” and an average target price of $96.32.

Insider Buying and Selling

In related news, insider John Colgrove sold 10,280 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $85.32, for a total value of $877,089.60. Following the sale, the insider owned 6,614,941 shares in the company, valued at $564,386,766.12. This represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 544,545 shares of company stock valued at $42,198,324 in the last 90 days. 5.10% of the stock is owned by corporate insiders.

Everpure Stock Performance

P opened at $72.19 on Friday. Everpure, Inc. has a 52-week low of $50.20 and a 52-week high of $100.59. The stock has a market cap of $23.86 billion, a PE ratio of 109.39, a P/E/G ratio of 5.12 and a beta of 1.44.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, analysts anticipate that Everpure, Inc. will post 0.73 earnings per share for the current fiscal year.

Everpure Profile

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.