OP Asset Management Ltd Invests $2.41 Million in EverQuote, Inc. $EVER

OP Asset Management Ltd bought a new position in shares of EverQuote, Inc. (NASDAQ:EVER) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 156,273 shares of the company’s stock, valued at approximately $2,410,000.

A number of other large investors have also recently bought and sold shares of EVER. Comerica Bank raised its position in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 772 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of EverQuote in the 3rd quarter valued at $52,000. Clearstead Advisors LLC increased its stake in shares of EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after acquiring an additional 826 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of EverQuote by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock worth $79,000 after acquiring an additional 2,381 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of EverQuote during the fourth quarter worth $84,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Insider Buying and Selling

In other news, CFO Joseph Sanborn sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $20.70, for a total transaction of $414,000.00. Following the transaction, the chief financial officer owned 337,660 shares in the company, valued at $6,989,562. This trade represents a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO David Brainard sold 9,942 shares of EverQuote stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total transaction of $193,073.64. Following the completion of the sale, the chief technology officer directly owned 180,493 shares in the company, valued at $3,505,174.06. This represents a 5.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,814 shares of company stock worth $829,255 in the last quarter. Insiders own 23.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, EverQuote currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

EverQuote Trading Up 6.9%

NASDAQ EVER opened at $23.20 on Friday. The stock has a market capitalization of $835.90 million, a price-to-earnings ratio of 7.89 and a beta of 0.65. The stock has a 50-day moving average of $18.89 and a 200 day moving average of $19.74. EverQuote, Inc. has a twelve month low of $13.88 and a twelve month high of $28.73.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.43 by $0.08. The company had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.EverQuote’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. Equities analysts predict that EverQuote, Inc. will post 1.99 EPS for the current fiscal year.

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.