98,518 Shares in EverQuote, Inc. $EVER Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 98,518 EverQuote shares worth approximately $2.34 million during the second quarter, giving it a 0.27% stake. Institutional investors collectively own 91.54% of the company.
• EverQuote reported quarterly EPS of $0.53 and revenue of $195.09 million, exceeding analyst estimates; revenue increased 24.6% year over year, while analysts expect full-year EPS of $1.72.
• EverQuote shares opened at $24.91, with analysts assigning a “Moderate Buy” consensus and an average price target of $28.17. Recent insider activity was negative, with insiders selling 42,043 shares valued at about $1.06 million over three months.

Bank of New York Mellon Corp acquired a new stake in EverQuote, Inc. (NASDAQ:EVER - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 98,518 shares of the company's stock, valued at approximately $2,344,000. Bank of New York Mellon Corp owned 0.27% of EverQuote at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EVER. Comerica Bank grew its stake in shares of 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 buying an additional 772 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in EverQuote by 70.5% in the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company's stock worth $54,000 after acquiring an additional 826 shares during the period. Signature Equity Partners LLC boosted its holdings in EverQuote by 65.5% in 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 acquired a new stake in EverQuote in the third quarter valued at approximately $52,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of EverQuote during the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 91.54% of the company's stock.

Insider Activity

In other EverQuote news, Director John Shields sold 3,126 shares of EverQuote stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $26.39, for a total value of $82,495.14. Following the completion of the transaction, the director owned 31,198 shares of the company's stock, valued at $823,315.22. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO David Brainard sold 4,960 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total transaction of $126,529.60. Following the sale, the chief technology officer owned 165,336 shares of the company's stock, valued at approximately $4,217,721.36. The trade was a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 42,043 shares of company stock valued at $1,058,112 over the last three months. 23.68% of the stock is currently owned by company insiders.

EverQuote Price Performance

Shares of EverQuote stock opened at $24.91 on Tuesday. The firm has a market cap of $897.51 million, a P/E ratio of 8.09 and a beta of 0.67. EverQuote, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The business has a 50-day moving average price of $25.24 and a 200 day moving average price of $20.25.

EverQuote (NASDAQ:EVER - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The company 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%.EverQuote's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. As a group, equities research analysts anticipate that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on EVER shares. Weiss Ratings raised shares of EverQuote from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. Zacks Research lowered shares of EverQuote from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Needham & Company LLC lifted their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of EverQuote from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, B. Riley Financial reissued a "buy" rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, EverQuote has an average rating of "Moderate Buy" and an average target price of $28.17.

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.

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