Everpure, Inc. $P Stock: Rakuten Investment Management Inc. Raises Position

Rakuten Investment Management Inc. grew its position in Everpure, Inc. (NYSE:P) by 224.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 58,582 shares of the company’s stock after acquiring an additional 40,518 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Everpure were worth $7,619,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Everpure by 504.0% in the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock worth $130,003,000 after acquiring an additional 829,476 shares in the last quarter. JANA Partners Management LP acquired a new position in shares of Everpure during the 2nd quarter worth $77,939,000. Artemis Investment Management LLP increased its stake in shares of 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 purchasing an additional 388,066 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Everpure during the 2nd quarter worth $25,525,000. Finally, Engineers Gate Manager LP bought a new position in shares of Everpure during the 2nd quarter valued at $25,859,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Stock Down 16.5%

Shares of P opened at $93.35 on Friday. The company has a market cap of $31.11 billion, a P/E ratio of 127.88, a PEG ratio of 3.73 and a beta of 1.43. Everpure, Inc. has a one year low of $56.78 and a one year high of $157.57. The stock has a fifty day moving average price of $120.03.

Everpure (NYSE:P) last released its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The firm had revenue of $1.19 billion during the quarter. Everpure’s revenue for the quarter was up 37.7% on a year-over-year basis. As a group, equities research analysts forecast that Everpure, Inc. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

P has been the subject of several analyst reports. Barclays lifted their price objective on shares of Everpure from $110.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 25th. Piper Sandler increased their target price on shares of Everpure from $133.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Needham & Company LLC raised their target price on Everpure from $150.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 8th. UBS Group raised their target price on Everpure from $70.00 to $80.00 and gave the company a “sell” rating in a report on Thursday, August 27th. Finally, Morgan Stanley upped their price target on Everpure from $119.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Everpure has an average rating of “Moderate Buy” and a consensus price target of $148.65.

Insider Buying and Selling

In related news, insider Ajay Singh sold 18,267 shares of the business’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $155.24, for a total transaction of $2,835,769.08. Following the completion of the transaction, the insider owned 270,095 shares of the company’s stock, valued at approximately $41,929,547.80. The trade was a 6.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 5,112 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $151.40, for a total value of $773,956.80. Following the sale, the chief accounting officer owned 125,982 shares of the company’s stock, valued at approximately $19,073,674.80. The trade was a 3.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,110,186 shares of company stock valued at $131,424,120 in the last quarter. 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.