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

Allspring Global Investments Holdings LLC lifted its position in EverQuote, Inc. (NASDAQ:EVER) by 47.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 909,877 shares of the company’s stock after buying an additional 293,160 shares during the period. Allspring Global Investments Holdings LLC owned about 2.53% of EverQuote worth $13,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Comerica Bank boosted its stake in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after purchasing an additional 772 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of EverQuote in the third quarter worth $52,000. Clearstead Advisors LLC raised its stake in shares of EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after purchasing an additional 826 shares during the last quarter. 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 in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of EverQuote during the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Trading Down 2.3%

EVER opened at $26.92 on Wednesday. The firm’s 50 day simple moving average is $21.51 and its two-hundred day simple moving average is $19.47. The company has a market capitalization of $969.93 million, a PE ratio of 9.16 and a beta of 0.61. EverQuote, Inc. has a 1-year low of $13.88 and a 1-year high of $28.73.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts forecast that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at EverQuote

In related news, CFO Joseph Sanborn sold 6,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total transaction of $164,208.21. Following the completion of the transaction, the chief financial officer directly owned 311,908 shares in the company, valued at approximately $7,682,294.04. The trade was a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 57,891 shares of company stock valued at $1,243,447. Company insiders own 23.68% of the company’s stock.

Analyst Ratings Changes

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