Insider Selling: Everpure (NYSE:P) Director Sells 60,000 Shares of Stock

Everpure, Inc. (NYSE:P) Director Scott Dietzen sold 60,000 shares of Everpure stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total value of $8,496,000.00. Following the completion of the transaction, the director directly owned 70,000 shares of the company’s stock, valued at $9,912,000. This represents a 46.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Everpure Trading Down 7.1%

NYSE P traded down $9.42 on Friday, hitting $123.98. 3,854,899 shares of the company were exchanged, compared to its average volume of 3,826,813. Everpure, Inc. has a 1-year low of $56.78 and a 1-year high of $157.57. The firm’s 50 day simple moving average is $115.20. The company has a market cap of $41.31 billion, a P/E ratio of 169.84, a P/E/G ratio of 4.72 and a beta of 1.39.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.51. The firm had revenue of $1.19 billion during the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The business’s revenue was up 37.7% on a year-over-year basis. On average, analysts expect that Everpure, Inc. will post 0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Everpure

A number of hedge funds and other institutional investors have recently bought and sold shares of P. Banque Pictet & Cie SA boosted its position in shares of Everpure by 5.0% in the 3rd quarter. Banque Pictet & Cie SA now owns 242,400 shares of the company’s stock worth $31,701,000 after purchasing an additional 11,559 shares during the last quarter. NFSG Corp grew its stake in shares of Everpure by 19.7% during the third quarter. NFSG Corp now owns 1,594 shares of the company’s stock worth $208,000 after purchasing an additional 262 shares during the period. V Square Quantitative Management LLC bought a new stake in Everpure in the third quarter valued at about $477,000. Assenagon Asset Management S.A. increased its holdings in Everpure by 504.0% in the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock valued at $130,003,000 after purchasing an additional 829,476 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Everpure by 1.9% in the third quarter. State of Alaska Department of Revenue now owns 31,491 shares of the company’s stock valued at $4,118,000 after purchasing an additional 573 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Everpure News Roundup

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure’s latest quarterly results provide fundamental support. Revenue increased 37.7% year over year to $1.19 billion, driven by enterprise-storage demand and subscription growth, while earnings per share of $0.70 substantially exceeded the $0.19 analyst consensus. Everpure Revenues Surge 38% in Q2
• Positive Sentiment: Everpure was added to the Invesco S&P 500 Equal Weight ETF (RSP), which could generate incremental institutional demand and increase the stock’s visibility. Invesco ETF Adds Everpure
• Neutral Sentiment: Wall Street remains broadly constructive, with a “Moderate Buy” consensus. However, the average analyst price target of $143.25 is below recent trading levels, indicating that much of the expected growth may already be reflected in the share price.
• Negative Sentiment: Insider selling is weighing on sentiment. Ajay Singh sold 18,267 shares for approximately $2.8 million, reducing his position by 6.33%, while John Colgrove sold 100,000 shares worth about $15.4 million. Colgrove’s transaction was conducted under a pre-arranged Rule 10b5-1 plan, making it a less direct signal of management’s outlook, although the scale and repetition of recent sales may concern investors. Everpure Insider Selling
• Negative Sentiment: Valuation risk remains significant. Everpure trades at a very high earnings multiple and has a PEG ratio above 4, leaving the stock vulnerable to profit-taking if growth moderates or future results do not exceed elevated expectations.
• Negative Sentiment: A hotter-than-expected 3.7% inflation reading, partly linked to higher energy costs, pushed bond yields higher and pressured growth-oriented technology shares. Higher interest rates can reduce the appeal of richly valued companies such as Everpure. Technology Stocks Fall on Inflation Concerns

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Everpure from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. JPMorgan Chase & Co. increased their price objective on Everpure from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Piper Sandler lifted their target price on Everpure from $133.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of Everpure in a research report on Thursday, August 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Everpure in a report on Monday. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.25.

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.