Everpure (NYSE:P) Trading Down 7.3% – Should You Sell?

Everpure, Inc. (NYSE:P)’s share price fell 7.3% on Monday . The stock traded as low as $101.09 and last traded at $100.68. 1,743,006 shares changed hands during trading, a decline of 47% from the average daily volume of 3,281,774 shares. The stock had previously closed at $108.55.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Lake Street Capital lifted their target price on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. DA Davidson set a $100.00 target price on Everpure in a research report on Wednesday, July 1st. TD Cowen raised their price target on Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Guggenheim increased their price target on shares of Everpure from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, William Blair reiterated an “outperform” rating on shares of Everpure in a report on Thursday, May 28th. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.30.

Everpure Price Performance

The firm has a fifty day moving average price of $82.90. The company has a market cap of $33.47 billion, a price-to-earnings ratio of 152.56, a PEG ratio of 6.04 and a beta of 1.45.

Everpure (NYSE:P) last issued its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. During the same period in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 35.2% compared to the same quarter last year. As a group, research analysts anticipate that Everpure, Inc. will post 0.93 earnings per share for the current year.

Insider Transactions at Everpure

In other Everpure news, Director Andrew William Fraser Brown sold 4,735 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $72.57, for a total value of $343,618.95. Following the transaction, the director directly owned 27,683 shares of the company’s stock, valued at $2,008,955.31. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan J.S. Taylor sold 8,543 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $81.74, for a total value of $698,304.82. Following the completion of the transaction, the director directly owned 94,608 shares in the company, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 827,800 shares of company stock valued at $78,153,882 in the last three months. 5.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everpure

A number of hedge funds have recently added to or reduced their stakes in the company. One Capital Management LLC raised its stake in 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 buying an additional 141 shares in the last quarter. Rothschild Investment LLC grew its position in Everpure by 18.1% during the 4th quarter. Rothschild Investment LLC now owns 993 shares of the company’s stock worth $67,000 after purchasing an additional 152 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in Everpure by 50.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 508 shares of the company’s stock valued at $34,000 after acquiring an additional 170 shares during the last quarter. National Bank of Canada FI grew its position in Everpure by 8.6% in the 3rd quarter. National Bank of Canada FI now owns 2,334 shares of the company’s stock valued at $196,000 after buying an additional 184 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Everpure by 8.5% in the fourth quarter. Larson Financial Group LLC now owns 2,420 shares of the company’s stock valued at $162,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.