Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in Everpure, Inc. $PSTG

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Everpure, Inc. (NYSE:PSTG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 17,916 shares of the technology company’s stock, valued at approximately $1,502,000. Everpure makes up 1.5% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new position in Everpure during the second quarter worth $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 acquired a new stake in shares of Everpure in the second quarter valued at $204,552,000. Federated Hermes Inc. raised its holdings in shares of 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 period. Finally, AQR Capital Management LLC raised its holdings in shares of Everpure by 158.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,938,125 shares of the technology company’s stock valued at $110,473,000 after buying an additional 1,188,126 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSTG shares. Wells Fargo & Company dropped their target price on Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Everpure in a research note on Thursday, January 22nd. Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Everpure in a report on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on shares of Everpure from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Finally, Wall Street Zen upgraded shares of Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.53.

Everpure Trading Up 0.8%

Shares of NYSE:PSTG opened at $61.50 on Friday. The firm has a 50 day simple moving average of $69.19 and a 200-day simple moving average of $77.76. Everpure, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The company has a market capitalization of $20.30 billion, a PE ratio of 111.81, a P/E/G ratio of 4.57 and a beta of 1.29.

Everpure (NYSE:PSTG) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $0.45 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Everpure, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity

In other news, insider Ajay Singh sold 7,178 shares of Everpure stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company’s stock.

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.