Key Points
- Insider sale: Everpure insider John Colgrove sold 99,900 shares on June 12 at an average price of $71.04, totaling about $7.1 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owned 2.615 million shares afterward.
- Recent selling trend: Colgrove has been steadily reducing his stake with multiple sales in recent weeks, including a much larger 200,000-share sale on May 11. The June 12 transaction represented a 3.68% decrease in his position.
- Company backdrop: Everpure shares recently traded at $72.40, and the company reported stronger-than-expected quarterly results, with EPS of $0.47 versus $0.40 expected and revenue up 35.2% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $96.32.
Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 99,900 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $71.04, for a total transaction of $7,096,896.00. Following the sale, the insider owned 2,615,000 shares of the company's stock, valued at $185,769,600. This trade represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
John Colgrove also recently made the following trade(s):
- On Wednesday, June 10th, John Colgrove sold 100 shares of Everpure stock. The stock was sold at an average price of $70.00, for a total transaction of $7,000.00.
- On Tuesday, June 2nd, John Colgrove sold 10,280 shares of Everpure stock. The stock was sold at an average price of $85.32, for a total transaction of $877,089.60.
- On Monday, May 11th, John Colgrove sold 200,000 shares of Everpure stock. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00.
- On Thursday, May 7th, John Colgrove sold 29,108 shares of Everpure stock. The stock was sold at an average price of $75.31, for a total transaction of $2,192,123.48.
- On Wednesday, May 6th, John Colgrove sold 27,578 shares of Everpure stock. The stock was sold at an average price of $75.01, for a total transaction of $2,068,625.78.
- On Tuesday, May 5th, John Colgrove sold 77,579 shares of Everpure stock. The shares were sold at an average price of $75.12, for a total transaction of $5,827,734.48.
- On Friday, April 24th, John Colgrove sold 28,935 shares of Everpure stock. The shares were sold at an average price of $70.01, for a total transaction of $2,025,739.35.
- On Thursday, April 23rd, John Colgrove sold 71,959 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total transaction of $5,041,447.54.
- On Wednesday, April 22nd, John Colgrove sold 82,266 shares of Everpure stock. The shares were sold at an average price of $70.50, for a total transaction of $5,799,753.00.
- On Tuesday, April 21st, John Colgrove sold 16,840 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total transaction of $1,179,810.40.
Everpure Price Performance
Shares of Everpure stock opened at $72.40 on Friday. Everpure, Inc. has a 12-month low of $50.20 and a 12-month high of $100.59. The stock has a market capitalization of $24.07 billion, a price-to-earnings ratio of 109.70, a P/E/G ratio of 3.92 and a beta of 1.44.
Everpure (NYSE:P - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $997.88 million. During the same period last year, the company posted $0.29 earnings per share. The firm's quarterly revenue was up 35.2% compared to the same quarter last year. As a group, sell-side analysts predict that Everpure, Inc. will post 0.92 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Everpure by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 33,891,025 shares of the company's stock worth $2,840,407,000 after purchasing an additional 623,019 shares in the last quarter. State Street Corp increased its stake in shares of Everpure by 0.8% during the 4th quarter. State Street Corp now owns 10,953,501 shares of the company's stock worth $733,994,000 after purchasing an additional 88,583 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company's stock worth $515,972,000 after purchasing an additional 207,317 shares in the last quarter. Atreides Management LP increased its stake in shares of Everpure by 15.4% during the 3rd quarter. Atreides Management LP now owns 4,098,376 shares of the company's stock worth $343,485,000 after purchasing an additional 545,890 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Everpure by 786.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company's stock worth $337,554,000 after purchasing an additional 3,573,493 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on P. Lake Street Capital increased their target price on shares of Everpure from $90.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Everpure from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 30th. 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. Northland Securities set a $90.00 target price on shares of Everpure in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Everpure from $80.00 to $92.00 and gave the company an "overweight" rating 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.32.
Get Our Latest Stock Analysis on P
Everpure Company Profile
(
Get Free Report)
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.
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