Turiya Advisors Asia Ltd Makes New Investment in Everpure, Inc. $P

Turiya Advisors Asia Ltd acquired a new position in shares of Everpure, Inc. (NYSE:P) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,000,000 shares of the company’s stock, valued at approximately $67,010,000. Everpure makes up 10.3% of Turiya Advisors Asia Ltd’s investment portfolio, making the stock its 5th largest position.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Everpure by 1.9% during the third quarter. Vanguard Group Inc. now owns 33,891,025 shares of the company’s stock worth $2,840,407,000 after buying an additional 623,019 shares during the period. State Street Corp grew its stake in Everpure by 1.9% during the third quarter. State Street Corp now owns 10,864,918 shares of the company’s stock worth $910,589,000 after buying an additional 199,831 shares during the period. Geode Capital Management LLC grew its stake in Everpure by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock worth $515,972,000 after buying an additional 207,317 shares during the period. Atreides Management LP grew its stake in Everpure by 15.4% during the third quarter. Atreides Management LP now owns 4,098,376 shares of the company’s stock worth $343,485,000 after buying an additional 545,890 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Everpure by 786.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company’s stock worth $337,554,000 after buying an additional 3,573,493 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Northland Securities set a $90.00 price objective on shares of Everpure in a research note on Thursday, May 28th. William Blair reiterated an “outperform” rating on shares of Everpure in a research note on Thursday, May 28th. Morgan Stanley boosted their price objective on shares of Everpure from $84.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Lake Street Capital boosted their target price on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.32.

Everpure Stock Performance

P opened at $69.19 on Friday. The firm has a market capitalization of $22.86 billion, a P/E ratio of 104.83, a P/E/G ratio of 3.76 and a beta of 1.44. Everpure, Inc. has a 12-month low of $50.20 and a 12-month high of $100.59.

Everpure (NYSE:P) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. As a group, equities research analysts anticipate that Everpure, Inc. will post 0.92 EPS for the current fiscal year.

Insider Transactions at Everpure

In related news, insider John Colgrove sold 10,280 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $85.32, for a total value of $877,089.60. Following the sale, the insider directly owned 6,614,941 shares of the company’s stock, valued at $564,386,766.12. This represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 544,545 shares of company stock valued at $42,198,324 over the last 90 days. Corporate insiders own 5.10% of the company’s stock.

Everpure 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.