Swiss Life Asset Management Ltd Acquires 8,260 Shares of Everpure, Inc. $PSTG

Swiss Life Asset Management Ltd raised its holdings in Everpure, Inc. (NYSE:PSTG) by 29.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,501 shares of the technology company’s stock after acquiring an additional 8,260 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Everpure were worth $3,059,000 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. raised its holdings in shares of Everpure by 1.9% during 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 in the last quarter. State Street Corp boosted its holdings in Everpure by 1.9% in the third quarter. State Street Corp now owns 10,864,918 shares of the technology company’s stock worth $910,589,000 after purchasing an additional 199,831 shares in the last quarter. Atreides Management LP increased its position in Everpure by 15.4% during the third quarter. Atreides Management LP now owns 4,098,376 shares of the technology company’s stock worth $343,485,000 after buying an additional 545,890 shares during 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. Finally, Norges Bank bought a new position in Everpure during the second quarter valued at about $225,203,000. 83.42% of the stock is owned by institutional investors.

Everpure Stock Performance

Everpure stock opened at $62.62 on Monday. Everpure, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The firm has a market capitalization of $20.67 billion, a PE ratio of 113.85, a PEG ratio of 4.67 and a beta of 1.29. The business’s 50-day simple moving average is $68.77 and its 200-day simple moving average is $77.50.

Everpure (NYSE:PSTG) last announced its earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.06 billion during 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%.The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. Research analysts forecast that Everpure, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on PSTG shares. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Everpure in a research report on Monday, February 23rd. Tigress Financial set a $105.00 price objective on Everpure in a research note on Wednesday, December 3rd. Evercore restated an “outperform” rating on shares of Everpure in a report on Wednesday, December 3rd. JPMorgan Chase & Co. decreased their target price on Everpure from $110.00 to $105.00 and set an “overweight” rating for the company 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 report on Saturday, February 21st. Thirteen equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.53.

Insider Activity

In other news, insider Ajay Singh sold 7,178 shares of the firm’s 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 sale, the insider owned 215,091 shares in the company, valued at approximately $14,441,209.74. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

Everpure 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.