Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Everpure, Inc. (NYSE:P – Free Report) by 507.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,124 shares of the company’s stock after acquiring an additional 40,207 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Everpure were worth $3,225,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in P. Winnow Wealth LLC purchased a new position in shares of Everpure during the third quarter worth about $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Everpure during the third quarter worth about $27,000. Salomon & Ludwin LLC boosted its holdings in Everpure by 108.2% in the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after purchasing an additional 199 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in Everpure in the 3rd quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. boosted its holdings in Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other 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 transaction of $17,186,000.00. Following the completion of the sale, the insider directly owned 6,625,221 shares in the company, valued at approximately $569,305,240.53. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 534,265 shares of company stock worth $41,321,234. 5.10% of the stock is currently owned by company insiders.
Everpure Price Performance
Everpure (NYSE:P – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts forecast that Everpure, Inc. will post 0.72 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on P. Wall Street Zen raised Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Everpure in a report on Monday, February 23rd. Piper Sandler reaffirmed a “buy” rating on shares of Everpure in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered their price objective on Everpure from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Finally, Barclays lifted their price objective on Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Everpure has an average rating of “Moderate Buy” and an average price target of $93.21.
View Our Latest Research Report on P
About Everpure
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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