Emerald Advisers LLC Reduces Stock Position in EverQuote, Inc. $EVER

Emerald Advisers LLC lessened its stake in EverQuote, Inc. (NASDAQ:EVER) by 4.1% in the first quarter, HoldingsChannel reports. The firm owned 691,266 shares of the company’s stock after selling 29,420 shares during the period. Emerald Advisers LLC’s holdings in EverQuote were worth $10,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in EverQuote by 90.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,945 shares of the company’s stock valued at $400,000 after buying an additional 12,335 shares during the last quarter. Principal Financial Group Inc. increased its holdings in EverQuote by 219.1% in the 1st quarter. Principal Financial Group Inc. now owns 137,574 shares of the company’s stock valued at $2,121,000 after acquiring an additional 94,467 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of EverQuote by 102.8% in the first quarter. Hsbc Holdings PLC now owns 61,724 shares of the company’s stock worth $965,000 after buying an additional 31,281 shares in the last quarter. K.J. Harrison & Partners Inc raised its holdings in shares of EverQuote by 539.0% during the 1st quarter. K.J. Harrison & Partners Inc now owns 63,900 shares of the company’s stock worth $985,000 after acquiring an additional 53,900 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in EverQuote by 116.3% during the first quarter. Inspire Investing LLC now owns 99,131 shares of the company’s stock valued at $1,529,000 after purchasing an additional 53,303 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Insiders Place Their Bets

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the sale, the chief accounting officer directly owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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. Over the last 90 days, insiders have sold 57,891 shares of company stock worth $1,243,447. 23.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EVER. Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price target on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of EverQuote from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

EverQuote Stock Up 2.6%

Shares of EVER stock opened at $25.48 on Tuesday. EverQuote, Inc. has a 52-week low of $13.88 and a 52-week high of $28.73. The stock has a market cap of $918.04 million, a PE ratio of 8.67 and a beta of 0.61. The business has a 50-day simple moving average of $20.84 and a 200-day simple moving average of $19.49.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The business had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. Sell-side analysts anticipate that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

About EverQuote

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.