Arax Advisory Partners Decreases Stock Holdings in Everpure, Inc. $P

Arax Advisory Partners decreased its position in Everpure, Inc. (NYSE:P) by 63.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,499 shares of the company’s stock after selling 45,504 shares during the quarter. Arax Advisory Partners’ holdings in Everpure were worth $1,776,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Provenance Wealth Advisors LLC purchased a new position in shares of Everpure in the third quarter valued at about $27,000. Salomon & Ludwin LLC boosted its stake in shares of Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after purchasing an additional 199 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Everpure during the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. boosted its stake in Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after acquiring an additional 244 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Everpure by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Everpure Price Performance

Shares of Everpure stock opened at $74.54 on Tuesday. The stock has a market capitalization of $24.78 billion, a price-to-earnings ratio of 112.94, a PEG ratio of 4.09 and a beta of 1.44. Everpure, Inc. has a 52-week low of $50.20 and a 52-week high of $100.59.

Everpure (NYSE:P) last released its quarterly earnings data 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same period in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. As a group, research analysts predict that Everpure, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 99,900 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $71.04, for a total transaction of $7,096,896.00. Following the completion of the sale, the insider directly owned 2,615,000 shares of the company’s stock, valued at approximately $185,769,600. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 644,545 shares of company stock worth $49,302,220 over the last three months. 5.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on P. JPMorgan Chase & Co. boosted their price objective on shares of Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Everpure in a report on Thursday, May 28th. Morgan Stanley lifted their target price on shares of Everpure from $84.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Northland Securities set a $90.00 target price on shares of Everpure in a report on Thursday, May 28th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Everpure 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 given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.32.

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.