Emerald Advisers LLC Sells 29,420 Shares of EverQuote, Inc. $EVER

Emerald Advisers LLC decreased its stake in EverQuote, Inc. (NASDAQ:EVER) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 691,266 shares of the company’s stock after selling 29,420 shares during the period. Emerald Advisers LLC owned about 1.92% of EverQuote worth $10,659,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EVER. Lazard Asset Management LLC grew its holdings in EverQuote by 81.7% during the 4th quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after acquiring an additional 405,237 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in EverQuote by 110.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock worth $15,720,000 after acquiring an additional 361,082 shares during the period. AQR Capital Management LLC grew its stake in shares of EverQuote by 95.1% in the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock valued at $15,853,000 after buying an additional 319,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of EverQuote by 615.1% during the first 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 acquiring an additional 292,172 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in EverQuote by 1,100.6% during the 4th quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock valued at $6,613,000 after purchasing an additional 224,535 shares in the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on EVER shares. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. upped their price target on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Insider Transactions at EverQuote

In other news, CAO Jon Ayotte sold 4,611 shares of EverQuote stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total transaction of $111,355.65. Following the sale, the chief accounting officer owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. The trade was a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 6,667 shares of EverQuote stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.63, for a total value of $164,208.21. Following the sale, the chief financial officer directly owned 311,908 shares in the company, valued at approximately $7,682,294.04. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 57,891 shares of company stock valued at $1,243,447. Company insiders own 23.68% of the company’s stock.

EverQuote Stock Performance

Shares of EverQuote stock opened at $25.48 on Tuesday. The company’s 50 day moving average price is $20.84 and its 200-day moving average price is $19.49. EverQuote, Inc. has a 52-week low of $13.88 and a 52-week high of $28.73. The stock has a market capitalization of $918.04 million, a price-to-earnings ratio of 8.67 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The company had revenue of $190.85 million during the quarter, compared to analyst estimates of $180.10 million. During the same period in the prior year, the business posted $0.21 earnings per share. EverQuote’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities research analysts forecast 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.