JANA Partners Management LP Takes Position in Everpure, Inc. $P

JANA Partners Management LP purchased a new position in Everpure, Inc. (NYSE:P) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 989,196 shares of the company’s stock, valued at approximately $77,939,000. Everpure makes up about 4.1% of JANA Partners Management LP’s holdings, making the stock its 9th biggest position.

A number of other large investors also recently modified their holdings of the company. Paradigm Capital Management Inc. NY bought a new position in Everpure in the 2nd quarter valued at $2,127,000. S&CO Inc. bought a new position in shares of Everpure in the second quarter worth $15,003,000. ClearAlpha Technologies LP purchased a new stake in shares of Everpure in the fourth quarter worth $971,000. National Pension Service raised its position in shares of Everpure by 782.9% in the fourth quarter. National Pension Service now owns 665,667 shares of the company’s stock worth $44,606,000 after buying an additional 590,274 shares in the last quarter. Finally, New Mexico Educational Retirement Board bought a new stake in Everpure during the second quarter valued at $4,948,000. 83.42% of the stock is currently owned by institutional investors.

Insider Activity at Everpure

In related news, insider Ajay Singh sold 9,787 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total value of $764,560.44. Following the completion of the sale, the insider owned 340,939 shares in the company, valued at $26,634,154.68. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $96.98, for a total value of $19,396,000.00. Following the completion of the sale, the insider directly owned 6,474,080 shares of the company’s stock, valued at approximately $627,856,278.40. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 817,520 shares of company stock valued at $77,276,792. Corporate insiders own 5.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on P shares. JPMorgan Chase & Co. boosted their target price on Everpure from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Lake Street Capital reiterated a “buy” rating and set a $120.00 price target on shares of Everpure in a research report on Thursday, August 27th. Barclays boosted their price objective on Everpure from $84.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, August 28th. Northland Securities upped their price objective on shares of Everpure from $90.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Finally, Needham & Company LLC raised their target price on shares of Everpure from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Seventeen research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.10.

Everpure Stock Up 6.0%

NYSE P opened at $97.98 on Friday. The company’s 50-day moving average price is $87.26. Everpure, Inc. has a twelve month low of $56.78 and a twelve month high of $119.10. The stock has a market capitalization of $32.57 billion, a P/E ratio of 134.22, a price-to-earnings-growth ratio of 3.72 and a beta of 1.43.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The firm had revenue of $1.19 billion during the quarter. The firm’s quarterly revenue was up 37.7% compared to the same quarter last year. Analysts expect that Everpure, Inc. will post 0.96 earnings per share for the current year.

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.