Malaga Cove Capital LLC Purchases Shares of 7,629 Everpure, Inc. $P

Malaga Cove Capital LLC purchased a new stake in Everpure, Inc. (NYSE:P) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,629 shares of the company’s stock, valued at approximately $511,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in P. Vanguard Group Inc. grew its holdings in shares of Everpure by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 33,891,025 shares of the company’s stock worth $2,840,407,000 after purchasing an additional 623,019 shares during the period. State Street Corp grew its holdings in shares of Everpure by 1.9% during the 3rd quarter. State Street Corp now owns 10,864,918 shares of the company’s stock worth $910,589,000 after purchasing an additional 199,831 shares during the period. Atreides Management LP grew its holdings in shares of Everpure by 15.4% during the 3rd quarter. Atreides Management LP now owns 4,098,376 shares of the company’s stock worth $343,485,000 after purchasing an additional 545,890 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Everpure by 786.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company’s stock worth $337,554,000 after purchasing an additional 3,573,493 shares during the period. Finally, Polar Capital Holdings Plc grew its holdings in shares of Everpure by 90.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock worth $237,278,000 after purchasing an additional 1,345,207 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

P has been the subject of a number of research reports. Citigroup cut Everpure from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Thursday, May 14th. Weiss Ratings initiated coverage on Everpure in a report on Monday, April 20th. They set a “hold (c)” rating for the company. Northland Securities upgraded Everpure from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $77.00 to $81.00 in a report on Monday, March 9th. JPMorgan Chase & Co. decreased their target price on Everpure from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Everpure in a report on Monday, February 23rd. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Everpure currently has an average rating of “Moderate Buy” and an average price target of $93.21.

Everpure Trading Up 1.7%

Everpure stock opened at $88.71 on Wednesday. The company has a market cap of $29.32 billion, a P/E ratio of 161.29, a P/E/G ratio of 6.52 and a beta of 1.44. Everpure, Inc. has a one year low of $50.20 and a one year high of $100.59.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.Everpure’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Sell-side analysts expect that Everpure, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling

In related news, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the transaction, the insider directly owned 6,625,221 shares of the company’s stock, valued at approximately $569,305,240.53. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 534,265 shares of company stock worth $41,321,234. 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.