Meeder Asset Management Inc. lifted its stake in EverQuote, Inc. (NASDAQ:EVER – Free Report) by 406.3% in the 1st quarter, Holdings Channel reports. The firm owned 128,116 shares of the company’s stock after purchasing an additional 102,813 shares during the quarter. Meeder Asset Management Inc.’s holdings in EverQuote were worth $1,976,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Comerica Bank boosted its holdings in EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after buying an additional 772 shares in the last quarter. NewEdge Advisors LLC purchased a new position in EverQuote in the third quarter valued at about $52,000. Clearstead Advisors LLC lifted its position in shares of EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after acquiring an additional 826 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of EverQuote by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after acquiring an additional 2,381 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of EverQuote during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 91.54% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of EverQuote in a report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their target price on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.
EverQuote Price Performance
Shares of NASDAQ EVER opened at $27.54 on Tuesday. EverQuote, Inc. has a 12-month low of $13.88 and a 12-month high of $28.73. The company has a market capitalization of $992.27 million, a PE ratio of 9.37 and a beta of 0.61. The firm’s 50-day moving average is $21.36 and its two-hundred day moving average is $19.47.
EverQuote (NASDAQ:EVER – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $180.10 million. During the same period last year, the company posted $0.21 EPS. The company’s revenue was up 14.6% on a year-over-year basis. On average, analysts forecast that EverQuote, Inc. will post 1.72 EPS for the current fiscal year.
Insider Buying and Selling at EverQuote
In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction on Wednesday, July 1st. The stock was 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 in the company, valued at approximately $1,801,107. This represents a 5.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Brainard sold 4,960 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $25.51, for a total value of $126,529.60. Following the transaction, the chief technology officer directly owned 165,336 shares of the company’s stock, valued at $4,217,721.36. The trade was a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In 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 insiders.
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.
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