Insider Selling: Everpure (NYSE:P) Director Sells $364,121.50 in Stock

Everpure, Inc. (NYSE:P) Director Mallun Yen sold 4,735 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $76.90, for a total transaction of $364,121.50. Following the completion of the transaction, the director owned 43,281 shares in the company, valued at approximately $3,328,308.90. This trade represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Everpure Trading Down 3.6%

Shares of NYSE P opened at $69.14 on Friday. The stock has a market capitalization of $22.98 billion, a P/E ratio of 104.76, a PEG ratio of 4.06 and a beta of 1.44. Everpure, Inc. has a 12 month low of $53.43 and a 12 month high of $100.59. The business’s 50-day moving average price is $76.44.

Everpure (NYSE:P) last announced 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 business 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 firm posted $0.29 earnings per share. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, analysts expect that Everpure, Inc. will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Everpure

A number of hedge funds have recently made changes to their positions in P. Provenance Wealth Advisors LLC purchased a new stake in Everpure during the 3rd quarter worth $27,000. Salomon & Ludwin LLC raised its position in Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after purchasing an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new position in Everpure in the third quarter valued at about $28,000. Sunbelt Securities Inc. lifted its stake in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Everpure by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

P has been the topic of several analyst reports. Weiss Ratings started coverage on Everpure in a report on Monday, April 20th. They set a “hold (c)” rating on the stock. UBS Group increased their target price on Everpure from $63.00 to $70.00 and gave the stock a “sell” rating in a research report on Thursday, May 28th. William Blair reissued an “outperform” 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 company an “equal weight” rating in a report on Thursday, May 28th. Finally, Northland Securities set a $90.00 price objective on shares of Everpure in a research note on Thursday, May 28th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Everpure has an average rating of “Moderate Buy” and an average price target 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.