Schroder Investment Management Group Raises Stock Holdings in Everpure, Inc. $PSTG

Schroder Investment Management Group boosted its position in Everpure, Inc. (NYSE:PSTG) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 603,053 shares of the technology company’s stock after purchasing an additional 45,477 shares during the quarter. Schroder Investment Management Group owned approximately 0.18% of Everpure worth $49,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Everpure during the 2nd quarter valued at approximately $225,203,000. Atreides Management LP bought a new stake in Everpure in the second quarter worth $204,552,000. Federated Hermes Inc. boosted its holdings in Everpure by 1,560.9% in the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock worth $77,368,000 after acquiring an additional 1,262,758 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Everpure by 158.4% in the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the technology company’s stock worth $110,473,000 after acquiring an additional 1,188,126 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Everpure by 75.0% in the second quarter. JPMorgan Chase & Co. now owns 2,525,955 shares of the technology company’s stock worth $145,445,000 after acquiring an additional 1,082,606 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Everpure in a research report on Wednesday, December 3rd. Barclays raised their price objective on shares of Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Oppenheimer started coverage on shares of Everpure in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 target price for the company. Finally, Tigress Financial set a $105.00 target price on shares of Everpure in a research note on Wednesday, December 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Everpure has an average rating of “Moderate Buy” and an average target price of $94.53.

Everpure Price Performance

Shares of NYSE:PSTG opened at $60.87 on Wednesday. Everpure, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The stock’s fifty day moving average price is $69.56 and its 200-day moving average price is $77.97. The company has a market cap of $20.10 billion, a P/E ratio of 110.67, a PEG ratio of 4.71 and a beta of 1.29.

Everpure (NYSE:PSTG) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.Everpure’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, sell-side analysts anticipate that Everpure, Inc. will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Everpure

In related news, insider Ajay Singh sold 7,178 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the transaction, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by insiders.

Everpure Company Profile

Everpure, Inc (NYSE: PSTG), formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.