Atreides Management LP Grows Holdings in Everpure, Inc. $PSTG

Atreides Management LP boosted its stake in shares of Everpure, Inc. (NYSE:PSTG) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,098,376 shares of the technology company’s stock after buying an additional 545,890 shares during the period. Everpure makes up approximately 6.7% of Atreides Management LP’s holdings, making the stock its largest holding. Atreides Management LP owned approximately 1.25% of Everpure worth $343,485,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. California Public Employees Retirement System raised its stake in shares of Everpure by 5.2% in the third quarter. California Public Employees Retirement System now owns 550,344 shares of the technology company’s stock valued at $46,124,000 after acquiring an additional 27,152 shares during the period. Bank of America Corp DE boosted its stake in shares of Everpure by 2.6% during the 3rd quarter. Bank of America Corp DE now owns 1,031,738 shares of the technology company’s stock worth $86,470,000 after purchasing an additional 26,105 shares during the period. Bank of Nova Scotia boosted its stake in shares of Everpure by 38.7% during the 3rd quarter. Bank of Nova Scotia now owns 9,056 shares of the technology company’s stock worth $759,000 after purchasing an additional 2,528 shares during the period. Boothbay Fund Management LLC bought a new position in Everpure during the 3rd quarter valued at about $358,000. Finally, Aquatic Capital Management LLC bought a new position in Everpure during the 3rd quarter valued at about $668,000. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSTG. Oppenheimer initiated coverage on shares of Everpure in a research note on Monday, November 17th. They issued an “outperform” rating and a $120.00 price objective for the company. Morgan Stanley set a $83.00 target price on Everpure in a research note on Wednesday, December 3rd. Citigroup reduced their price target on Everpure from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. TD Cowen reissued a “buy” rating on shares of Everpure in a research note on Wednesday, December 3rd. Finally, UBS Group boosted their price objective on Everpure from $60.00 to $63.00 and gave the company a “sell” rating in a report on Thursday, February 26th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Everpure currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.53.

Everpure Price Performance

Shares of PSTG stock opened at $61.50 on Friday. The company has a market capitalization of $20.30 billion, a P/E ratio of 111.81, a P/E/G ratio of 4.60 and a beta of 1.29. The company’s 50-day simple moving average is $69.19 and its two-hundred day simple moving average is $77.89. Everpure, Inc. has a one year low of $34.51 and a one year high of $100.59.

Everpure (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm 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 company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, research analysts expect that Everpure, Inc. will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Everpure news, insider Ajay Singh sold 7,178 shares of Everpure stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

About Everpure

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.