Everpure (NYSE:P) Stock: Insider Ajay Singh Sells 18,267 Shares

Everpure, Inc. (NYSE:P) insider Ajay Singh sold 18,267 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $155.24, for a total transaction of $2,835,769.08. Following the transaction, the insider directly owned 270,095 shares in the company, valued at approximately $41,929,547.80. The trade was a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Ajay Singh also recently made the following trade(s):

• On Thursday, September 24th, Ajay Singh sold 42,930 shares of Everpure stock. The stock was sold at an average price of $124.17, for a total value of $5,330,618.10.

Everpure Trading Down 7.1%

Shares of P opened at $123.98 on Friday. The business has a 50-day simple moving average of $115.88. Everpure, Inc. has a fifty-two week low of $56.78 and a fifty-two week high of $157.57. The stock has a market capitalization of $41.32 billion, a PE ratio of 169.84, a PEG ratio of 4.45 and a beta of 1.39.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $122.00 price objective on shares of Everpure in a research note on Thursday, August 27th. Guggenheim boosted their price objective on Everpure from $150.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. Northland Securities set a $167.00 price objective on shares of Everpure in a research note on Thursday, September 24th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Everpure in a research note on Monday. Finally, Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of Everpure in a research report on Thursday, August 20th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.25.

Key Everpure News

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

Institutional Trading of Everpure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its position in shares of Everpure by 4.7% during the third quarter. TD Waterhouse Canada Inc. now owns 30,158 shares of the company’s stock worth $4,044,000 after purchasing an additional 1,343 shares during the last quarter. Banque Pictet & Cie SA boosted its holdings in shares of Everpure by 5.0% in the third quarter. Banque Pictet & Cie SA now owns 242,400 shares of the company’s stock valued at $31,701,000 after purchasing an additional 11,559 shares during the period. NFSG Corp lifted its holdings in shares of Everpure by 19.7% in the 3rd quarter. NFSG Corp now owns 1,594 shares of the company’s stock worth $208,000 after buying an additional 262 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Everpure during the 3rd quarter worth $477,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Everpure by 504.0% during the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock valued at $130,003,000 after buying an additional 829,476 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Everpure Company 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.