Globeflex Capital L P Acquires Shares of 49,969 EverQuote, Inc. $EVER

Globeflex Capital L P acquired a new stake in EverQuote, Inc. (NASDAQ:EVER) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 49,969 shares of the company’s stock, valued at approximately $1,189,000.

Other institutional investors also recently modified their holdings of the company. Comerica Bank boosted its holdings in EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares in the last quarter. Signature Equity Partners LLC grew its holdings in shares of EverQuote by 65.5% during the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after acquiring an additional 842 shares during the period. NewEdge Advisors LLC bought a new position in EverQuote in the third quarter worth $52,000. Clearstead Advisors LLC lifted its position in 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. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of EverQuote by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after purchasing an additional 2,381 shares during the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Joseph Sanborn sold 6,667 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.51, for a total value of $170,075.17. Following the transaction, the chief financial officer owned 305,241 shares of the company’s stock, valued at $7,786,697.91. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction 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 owned 74,580 shares in the company, valued at approximately $1,801,107. This represents a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 35,020 shares of company stock worth $828,266 in the last 90 days. 23.68% of the stock is owned by insiders.

Analysts Set New Price Targets

EVER has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. B. Riley Financial restated a “buy” rating and issued a $34.00 price target (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a report on Wednesday, August 12th. JPMorgan Chase & Co. began coverage on EverQuote in a research report on Monday. They set an “overweight” rating and a $29.00 price objective for the company. Finally, Needham & Company LLC increased their target price on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, EverQuote currently has an average rating of “Moderate Buy” and an average price target of $28.17.

EverQuote Trading Up 5.5%

Shares of EverQuote stock opened at $26.62 on Tuesday. The firm has a market cap of $959.12 million, a PE ratio of 8.64 and a beta of 0.62. The stock has a 50 day moving average of $24.39 and a 200 day moving average of $19.59. EverQuote, Inc. has a 12 month low of $13.88 and a 12 month high of $28.73.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $195.09 million for the quarter, compared to the consensus estimate of $191.06 million. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. As a group, equities research analysts forecast that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

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.