Allspring Global Investments Holdings LLC Increases Holdings in EverQuote, Inc. $EVER

Allspring Global Investments Holdings LLC lifted its holdings in EverQuote, Inc. (NASDAQ:EVER) by 47.5% in the first quarter, HoldingsChannel.com reports. The fund owned 909,877 shares of the company’s stock after buying an additional 293,160 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in EverQuote were worth $13,412,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in EverQuote by 1,100.6% in the 4th quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock worth $6,613,000 after purchasing an additional 224,535 shares in the last quarter. Legato Capital Management LLC raised its position in shares of EverQuote by 179.9% during the fourth quarter. Legato Capital Management LLC now owns 86,717 shares of the company’s stock valued at $2,341,000 after buying an additional 55,741 shares during the last quarter. K.J. Harrison & Partners Inc raised its position in shares of EverQuote by 539.0% during the first quarter. K.J. Harrison & Partners Inc now owns 63,900 shares of the company’s stock valued at $985,000 after buying an additional 53,900 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of EverQuote during the fourth quarter valued at approximately $3,853,000. Finally, OP Asset Management Ltd purchased a new position in shares of EverQuote in the first quarter worth $2,410,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Stock Performance

Shares of EVER opened at $26.92 on Wednesday. The company’s fifty day moving average is $21.51 and its 200 day moving average is $19.47. EverQuote, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The stock has a market capitalization of $969.93 million, a PE ratio of 9.16 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $180.10 million. During the same quarter last year, the business earned $0.21 earnings per share. EverQuote’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, research analysts forecast that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Insider Activity

In other news, CTO David Brainard sold 4,960 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer directly owned 165,336 shares of the company’s stock, valued at $4,217,721.36. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jon Ayotte sold 4,611 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total value of $111,355.65. Following the transaction, the chief accounting officer directly owned 74,580 shares in the company, valued at approximately $1,801,107. This represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 57,891 shares of company stock worth $1,243,447. 23.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EVER has been the subject of several research analyst reports. Wall Street Zen cut shares of EverQuote from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. lifted their target price on EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.17.

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.