William Blair Investment Management LLC Reduces Stock Position in Everpure, Inc. $P

William Blair Investment Management LLC reduced its position in shares of Everpure, Inc. (NYSE:P) by 19.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,742,928 shares of the company’s stock after selling 923,964 shares during the period. Everpure comprises 0.7% of William Blair Investment Management LLC’s investment portfolio, making the stock its 29th largest position. William Blair Investment Management LLC’s holdings in Everpure were worth $250,814,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Winnow Wealth LLC bought a new position in Everpure in the third quarter worth about $26,000. Provenance Wealth Advisors LLC bought a new position in Everpure in the third quarter worth about $27,000. Salomon & Ludwin LLC raised its stake in Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock worth $27,000 after buying an additional 199 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in Everpure in the third quarter worth about $28,000. Finally, Sunbelt Securities Inc. raised its stake in Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after buying an additional 244 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on P shares. Northland Securities raised shares of Everpure from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $77.00 to $81.00 in a research note on Monday, March 9th. JPMorgan Chase & Co. decreased their price target on shares of Everpure from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Everpure in a research note on Monday, February 23rd. Wall Street Zen raised shares of Everpure from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Piper Sandler reissued a “buy” rating on shares of Everpure in a research note on Thursday, February 26th. Twelve equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.21.

Everpure Stock Up 10.6%

Shares of P opened at $87.39 on Friday. The company has a market cap of $28.88 billion, a P/E ratio of 158.89, a PEG ratio of 6.52 and a beta of 1.44. Everpure, Inc. has a twelve month low of $50.20 and a twelve month high of $100.59.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Everpure

In related news, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the completion of the sale, the insider owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 534,265 shares of company stock worth $41,321,234 over the last ninety days. 5.10% of the stock is owned by company insiders.

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.