Norges Bank Makes New $265.33 Million Investment in Everpure, Inc. $P

Norges Bank bought a new position in shares of Everpure, Inc. (NYSE:P) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,959,514 shares of the company’s stock, valued at approximately $265,327,000. Norges Bank owned about 1.20% of Everpure at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 last quarter. State Street Corp boosted its holdings 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 last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 207,317 shares during the period. Atreides Management LP lifted 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 valued at $343,485,000 after purchasing an additional 545,890 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted 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 valued at $337,554,000 after purchasing an additional 3,573,493 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 200,000 shares of the stock in a transaction 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 sale, the insider owned 6,625,221 shares in the company, valued at $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 534,265 shares of company stock valued at $41,321,234 in the last ninety days. Company insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

P has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating on shares of Everpure in a research note on Thursday, May 28th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Everpure in a report on Thursday, May 28th. Barclays increased their price objective on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Weiss Ratings began coverage on shares of Everpure in a report on Monday, April 20th. They set a “hold (c)” rating on the stock. Finally, Morgan Stanley boosted their price objective on shares of Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Thirteen 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.32.

Everpure Price Performance

Shares of P opened at $82.86 on Wednesday. The company has a market cap of $27.38 billion, a PE ratio of 125.54, a price-to-earnings-growth ratio of 5.99 and a beta of 1.44. Everpure, Inc. has a twelve month low of $50.20 and a twelve month high of $100.59.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $1.05 billion during 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 business’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. As a group, sell-side analysts expect that Everpure, Inc. will post 0.73 EPS for the current fiscal year.

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.