Arrowstreet Capital Limited Partnership Has $337.55 Million Stock Position in Everpure, Inc. $PSTG

Arrowstreet Capital Limited Partnership raised its stake in Everpure, Inc. (NYSE:PSTG) by 786.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,027,610 shares of the technology company’s stock after buying an additional 3,573,493 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.23% of Everpure worth $337,554,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in Everpure in the 1st quarter worth $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Everpure by 129.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Everpure by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after purchasing an additional 595,307 shares during the period. Empowered Funds LLC lifted its holdings in shares of Everpure by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after purchasing an additional 194 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of Everpure by 11.8% in the second quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock valued at $95,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In other news, insider Ajay Singh sold 7,178 shares of Everpure stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by corporate insiders.

Everpure Stock Performance

Shares of NYSE PSTG opened at $61.03 on Friday. The stock has a 50 day moving average price of $69.34 and a 200 day moving average price of $77.74. The stock has a market capitalization of $20.15 billion, a PE ratio of 110.96, a price-to-earnings-growth ratio of 4.65 and a beta of 1.29. Everpure, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59.

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. As a group, research analysts forecast that Everpure, Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of research reports. Wall Street Zen upgraded Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Oppenheimer assumed coverage on Everpure in a research report on Monday, November 17th. They set an “outperform” rating and a $120.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Everpure from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Morgan Stanley set a $83.00 price objective on shares of Everpure in a report on Wednesday, December 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.53.

Everpure Company Profile

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.