Bullseye Asset Management LLC Sells 68,000 Shares of Everpure, Inc. $PSTG

Bullseye Asset Management LLC cut its holdings in Everpure, Inc. (NYSE:PSTG) by 77.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,113 shares of the technology company’s stock after selling 68,000 shares during the quarter. Bullseye Asset Management LLC’s holdings in Everpure were worth $1,686,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Everpure by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 33,891,025 shares of the technology company’s stock valued at $2,840,407,000 after purchasing an additional 623,019 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Everpure by 1.7% in the second quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after purchasing an additional 123,320 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position 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 buying an additional 3,573,493 shares during the last quarter. Norges Bank acquired a new position in Everpure during the second quarter worth $225,203,000. Finally, Atreides Management LP bought a new position in Everpure during the second quarter valued at about $204,552,000. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group upped their price target on Everpure from $60.00 to $63.00 and gave the stock a “sell” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Everpure in a research note on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Everpure in a report on Wednesday, December 3rd. Northland Securities raised Everpure from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $77.00 to $81.00 in a research report on Monday, March 9th. Finally, Piper Sandler reissued a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Thirteen 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 data from MarketBeat.com, Everpure currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.53.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 7,178 shares of the stock in a transaction on 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 in the company, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.

Everpure Trading Up 0.8%

Shares of PSTG stock opened at $61.50 on Friday. The stock has a 50 day moving average of $69.19 and a two-hundred day moving average of $77.76. Everpure, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The company has a market capitalization of $20.30 billion, a P/E ratio of 111.81, a P/E/G ratio of 4.57 and a beta of 1.29.

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

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.