Everpure (NYSE:P) Director Scott Dietzen Sells 60,000 Shares of Stock

Everpure, Inc. (NYSE:P) Director Scott Dietzen sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total value of $8,496,000.00. Following the transaction, the director directly owned 70,000 shares in the company, valued at approximately $9,912,000. The trade was a 46.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Everpure Stock Down 7.1%

Shares of Everpure stock traded down $9.42 during trading on Friday, hitting $123.98. 3,855,414 shares of the company’s stock traded hands, compared to its average volume of 8,659,878. Everpure, Inc. has a 1 year low of $56.78 and a 1 year high of $157.57. The stock has a market cap of $41.32 billion, a PE ratio of 169.84, a P/E/G ratio of 4.45 and a beta of 1.39. The stock has a 50-day simple moving average of $115.88.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 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 company had revenue of $1.19 billion during the quarter. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. Research analysts expect that Everpure, Inc. will post 0.95 EPS for the current year.

Hedge Funds Weigh In On Everpure

Hedge funds have recently modified their holdings of the stock. JANA Partners Management LP purchased a new position in shares of Everpure during the second quarter valued at approximately $77,939,000. Assenagon Asset Management S.A. grew its position in shares of Everpure by 504.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock worth $130,003,000 after buying an additional 829,476 shares in the last quarter. Artemis Investment Management LLP grew its holdings in Everpure by 100.1% during the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock worth $101,456,000 after acquiring an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in Everpure during the second quarter valued at approximately $25,525,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Everpure in the 2nd quarter valued at $25,859,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on P. Northland Securities set a $167.00 price objective on shares of Everpure in a report on Thursday, September 24th. Needham & Company LLC raised their target price on shares of Everpure from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. TD Cowen lifted their target price on shares of Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Wells Fargo & Company lifted their price objective on Everpure from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, September 24th. Finally, Bank of America raised shares of Everpure from a “neutral” rating to a “buy” rating and upped their target price for the company from $90.00 to $150.00 in a report on Thursday, August 27th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.25.

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.