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

Allspring Global Investments Holdings LLC grew its position in EverQuote, Inc. (NASDAQ:EVER) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 616,717 shares of the company’s stock after acquiring an additional 141,026 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.72% of EverQuote worth $15,683,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its stake in EverQuote by 9.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 30,311 shares of the company’s stock worth $818,000 after purchasing an additional 2,598 shares during the last quarter. SG Americas Securities LLC boosted its position in EverQuote by 1,100.6% during the fourth quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock worth $6,613,000 after acquiring an additional 224,535 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in EverQuote during the 3rd quarter valued at about $52,000. PharVision Advisers LLC purchased a new stake in EverQuote during the 3rd quarter valued at about $209,000. Finally, Virtus Advisers LLC raised its holdings in EverQuote by 1,238.3% in the 3rd quarter. Virtus Advisers LLC now owns 30,005 shares of the company’s stock valued at $686,000 after acquiring an additional 27,763 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

EverQuote Stock Performance

Shares of EVER opened at $15.18 on Friday. The firm has a market cap of $546.94 million, a P/E ratio of 5.75 and a beta of 0.62. EverQuote, Inc. has a 12-month low of $13.93 and a 12-month high of $28.73. The company’s 50-day moving average price is $16.75 and its 200 day moving average price is $21.75.

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

Wall Street Analyst Weigh In

EVER has been the subject of a number of analyst reports. Wall Street Zen lowered EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group lowered their price objective on EverQuote from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Raymond James Financial restated an “outperform” rating and issued a $18.00 target price on shares of EverQuote in a report on Tuesday, February 17th. Needham & Company LLC reduced their target price on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, EverQuote presently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Insider Activity at EverQuote

In related news, CTO David Brainard sold 5,709 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the completion of the transaction, the chief technology officer owned 101,603 shares of the company’s stock, valued at approximately $2,545,155.15. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jon Ayotte sold 1,730 shares of EverQuote stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $15.56, for a total transaction of $26,918.80. Following the completion of the sale, the chief accounting officer owned 86,202 shares of the company’s stock, valued at $1,341,303.12. This trade represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 41,539 shares of company stock worth $856,427. Company insiders own 25.52% of the company’s stock.

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.