Congress Asset Management Co. Lowers Stock Position in Everpure, Inc. $PSTG

Congress Asset Management Co. trimmed its stake in Everpure, Inc. (NYSE:PSTG) by 25.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 927,345 shares of the technology company’s stock after selling 324,944 shares during the period. Congress Asset Management Co. owned about 0.28% of Everpure worth $62,141,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Everpure in the 2nd quarter valued at approximately $225,203,000. Arrowstreet Capital Limited Partnership lifted its stake in Everpure by 786.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock worth $337,554,000 after purchasing an additional 3,573,493 shares in the last quarter. Atreides Management LP purchased a new position in shares of Everpure during the second quarter worth $204,552,000. Polar Capital Holdings Plc boosted its position in shares of Everpure by 90.5% during the third quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the technology company’s stock worth $237,278,000 after buying an additional 1,345,207 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Everpure by 1,560.9% in the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock valued at $77,368,000 after buying an additional 1,262,758 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSTG has been the topic of several research reports. Lake Street Capital increased their target price on Everpure from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Tigress Financial set a $105.00 target price on Everpure in a research report on Wednesday, December 3rd. Evercore reiterated an “outperform” rating on shares of Everpure in a research note on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Everpure in a research report on Wednesday, December 3rd. Finally, Wall Street Zen raised shares of Everpure from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Thirteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.53.

Everpure Trading Up 3.0%

NYSE:PSTG opened at $64.49 on Tuesday. Everpure, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The firm has a market cap of $21.29 billion, a PE ratio of 117.26, a price-to-earnings-growth ratio of 4.67 and a beta of 1.29. The stock has a fifty day moving average price of $68.61 and a 200 day moving average price of $77.40.

Everpure (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.Everpure’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS. Equities analysts forecast that Everpure, Inc. will post 0.44 EPS for the current year.

About Everpure

Everpure, Inc (NYSE: PSTG), formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.