Thornburg Investment Management Inc. lessened its stake in Everpure, Inc. (NYSE:P – Free Report) by 15.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 193,748 shares of the company’s stock after selling 34,296 shares during the period. Thornburg Investment Management Inc.’s holdings in Everpure were worth $12,983,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Provenance Wealth Advisors LLC bought a new stake in shares of Everpure in the third quarter valued at about $27,000. Salomon & Ludwin LLC lifted its stake in shares of Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after buying an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Everpure in the third quarter valued at about $28,000. Sunbelt Securities Inc. lifted its stake in shares of Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after buying an additional 244 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Everpure by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the period. Institutional investors own 83.42% of the company’s stock.
Insider Activity
In other news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $85.93, for a total value of $17,186,000.00. Following the completion of the transaction, the insider owned 6,625,221 shares in the company, valued at approximately $569,305,240.53. The trade was a 2.93% 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 a total of 644,545 shares of company stock valued at $49,302,220 in the last three months. Insiders own 5.10% of the company’s stock.
Everpure Stock Up 0.1%
Everpure (NYSE:P – Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same period in the prior year, the firm posted $0.29 EPS. Everpure’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities research analysts expect that Everpure, Inc. will post 0.92 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating on shares of Everpure in a research note on Thursday, May 28th. Lake Street Capital increased their target price on Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen raised Everpure from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Finally, Weiss Ratings started coverage on Everpure in a report on Monday, April 20th. They issued a “hold (c)” rating for the company. Thirteen equities research 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, the stock has an average rating of “Moderate Buy” and an average price target of $96.32.
Check Out Our Latest Stock Analysis on P
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.
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