Allspring Global Investments Holdings LLC Raises Stock Position in EverQuote, Inc. $EVER

Allspring Global Investments Holdings LLC lifted its holdings in shares of EverQuote, Inc. (NASDAQ:EVER) by 29.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 616,717 shares of the company’s stock after purchasing an additional 141,026 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in EverQuote were worth $15,683,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EVER. Emerald Advisers LLC boosted its position in EverQuote by 11.2% in the 3rd quarter. Emerald Advisers LLC now owns 689,253 shares of the company’s stock valued at $15,763,000 after buying an additional 69,668 shares during the period. D.A. Davidson & CO. acquired a new position in EverQuote during the 3rd quarter worth $1,100,000. Y Intercept Hong Kong Ltd grew its stake in EverQuote by 75.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 114,451 shares of the company’s stock worth $2,617,000 after purchasing an additional 49,205 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in EverQuote by 14.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 416,662 shares of the company’s stock worth $9,529,000 after purchasing an additional 53,695 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in EverQuote during the 3rd quarter worth about $1,830,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen cut shares of EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $18.00 price objective on shares of EverQuote in a research report on Tuesday, February 17th. Craig Hallum reissued a “buy” rating and issued a $20.00 target price on shares of EverQuote in a report on Tuesday, February 24th. Finally, Zacks Research downgraded EverQuote from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.83.

EverQuote Price Performance

Shares of NASDAQ EVER opened at $15.18 on Friday. The business has a 50-day moving average price of $16.75 and a 200 day moving average price of $21.75. The stock has a market cap of $546.94 million, a PE ratio of 5.75 and a beta of 0.62. EverQuote, Inc. has a 52-week low of $13.93 and a 52-week high of $28.73.

EverQuote (NASDAQ:EVER) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $0.35 by $1.19. The company had revenue of $195.32 million for the quarter, compared to analyst estimates of $176.82 million. EverQuote had a return on equity of 57.65% and a net margin of 14.34%.The firm’s revenue was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. Sell-side analysts anticipate that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling at EverQuote

In other EverQuote news, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $25.73, for a total transaction of $51,460.00. Following the transaction, the director directly owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction on Friday, February 20th. The shares were sold at an average price of $14.98, for a total transaction of $215,112.80. Following the completion of the transaction, the chief executive officer owned 541,777 shares in the company, valued at approximately $8,115,819.46. This represents a 2.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,539 shares of company stock worth $856,427 in the last quarter. 25.52% of the stock is currently owned by company insiders.

EverQuote 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.