Joseph Sanborn Sells 642 Shares of EverQuote (NASDAQ:EVER) Stock

EverQuote, Inc. (NASDAQ:EVER) CFO Joseph Sanborn sold 642 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $24.50, for a total transaction of $15,729.00. Following the transaction, the chief financial officer directly owned 318,575 shares of the company’s stock, valued at $7,805,087.50. This trade represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Sanborn also recently made the following trade(s):

• On Monday, June 8th, Joseph Sanborn sold 6,666 shares of EverQuote stock. The stock was sold at an average price of $19.28, for a total transaction of $128,520.48.
• On Thursday, May 7th, Joseph Sanborn sold 20,000 shares of EverQuote stock. The shares were sold at an average price of $20.70, for a total transaction of $414,000.00.

EverQuote Stock Down 0.2%

Shares of NASDAQ EVER opened at $24.76 on Friday. EverQuote, Inc. has a 52-week low of $13.88 and a 52-week high of $28.73. The firm has a fifty day moving average of $20.43 and a 200-day moving average of $19.52. The stock has a market capitalization of $892.10 million, a PE ratio of 8.42 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last issued its earnings results on Monday, May 4th. The company reported $0.51 earnings per share 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 period last year, the company posted $0.21 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts expect that EverQuote, Inc. will post 1.72 EPS for the current fiscal year.

Institutional Trading of EverQuote

Several large investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in shares of EverQuote by 1,705.9% during the first quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock worth $1,713,000 after acquiring an additional 61,805 shares during the last quarter. Amundi purchased a new position in EverQuote in the first quarter valued at about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in EverQuote by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after purchasing an additional 624 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in EverQuote by 615.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock valued at $8,896,000 after purchasing an additional 292,172 shares in the last quarter. Finally, Creative Planning increased its holdings in EverQuote by 32.4% during the 2nd quarter. Creative Planning now owns 10,526 shares of the company’s stock worth $255,000 after purchasing an additional 2,576 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EVER has been the topic of several research analyst reports. Wall Street Zen lowered EverQuote from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 15th. JPMorgan Chase & Co. lifted their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of EverQuote in a research note on Tuesday, May 5th. Six 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

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.