Exchange Traded Concepts LLC Buys 18,904 Shares of Everpure, Inc. $PSTG

Exchange Traded Concepts LLC increased its stake in Everpure, Inc. (NYSE:PSTG) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,799 shares of the technology company’s stock after purchasing an additional 18,904 shares during the period. Exchange Traded Concepts LLC’s holdings in Everpure were worth $6,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PSTG. Norges Bank bought a new stake in shares of Everpure in the second quarter valued at about $225,203,000. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 buying an additional 3,573,493 shares during the period. Atreides Management LP bought a new position in shares of Everpure during the second quarter worth about $204,552,000. Polar Capital Holdings Plc grew its holdings 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 in the last quarter. Finally, Federated Hermes Inc. raised its position in Everpure by 1,560.9% in the 2nd 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 during the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PSTG. Northland Securities upgraded Everpure from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $77.00 to $81.00 in a research note on Monday, March 9th. Morgan Stanley set a $83.00 price target on shares of Everpure in a research note on Wednesday, December 3rd. Tigress Financial set a $105.00 price objective on shares of Everpure in a report on Wednesday, December 3rd. Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Everpure in a research report on Monday, February 23rd. Finally, Citigroup reduced their target price on shares of Everpure from $105.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.53.

Everpure Stock Up 0.1%

PSTG stock opened at $59.04 on Monday. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 107.35, a P/E/G ratio of 4.40 and a beta of 1.29. Everpure, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The business has a 50 day moving average price of $67.82 and a two-hundred day moving average price of $76.93.

Everpure (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Everpure, Inc. will post 0.44 EPS for the current fiscal 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.