Amundi Has $1.85 Million Holdings in EverQuote, Inc. $EVER

Key Points

• Amundi increased its EverQuote stake by 198.5% in the first quarter, holding 119,848 shares worth approximately $1.85 million. Institutional investors collectively own 91.54% of the company.
• EverQuote reported quarterly EPS of $0.53, slightly above estimates, while revenue reached $195.09 million, up 24.6% year over year and ahead of analyst expectations.
• Analyst sentiment remains favorable, with six Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $25.67; however, company insiders sold 27,586 shares worth $629,114 over the past three months.

Amundi grew its position in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 198.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,848 shares of the company's stock after purchasing an additional 79,700 shares during the quarter. Amundi owned approximately 0.33% of EverQuote worth $1,848,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EVER. Royal Bank of Canada lifted its holdings in shares of EverQuote by 15.2% during the 1st quarter. Royal Bank of Canada now owns 60,404 shares of the company's stock worth $931,000 after acquiring an additional 7,959 shares during the period. Quantinno Capital Management LP lifted its stake in EverQuote by 254.6% in the first quarter. Quantinno Capital Management LP now owns 115,013 shares of the company's stock valued at $1,774,000 after buying an additional 82,579 shares during the period. Jacobs Asset Management LLC boosted its stake in EverQuote by 199.9% during the 1st quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company's stock worth $6,219,000 after acquiring an additional 268,819 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of EverQuote by 28.9% in the 1st quarter. Renaissance Technologies LLC now owns 941,467 shares of the company's stock valued at $14,517,000 after purchasing an additional 211,360 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in EverQuote by 1.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 743,869 shares of the company's stock valued at $11,470,000 after acquiring an additional 13,276 shares in the last quarter. 91.54% of the stock is owned by institutional investors.

EverQuote Stock Performance

Shares of NASDAQ:EVER opened at $25.71 on Friday. The company has a market capitalization of $926.33 million, a P/E ratio of 8.35 and a beta of 0.62. The company's 50-day moving average is $23.19 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.

EverQuote (NASDAQ:EVER - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The business's revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, research analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Insider Activity at EverQuote

In other news, CFO Joseph Sanborn sold 6,667 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.63, for a total value 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. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David Brainard sold 4,960 shares of the business's stock in a transaction that occurred 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 transaction, the chief technology officer directly owned 165,336 shares of the company's stock, valued at approximately $4,217,721.36. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,586 shares of company stock worth $629,114. 23.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

EVER has been the topic of a number of analyst reports. Needham & Company LLC upped their price objective on EverQuote from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday. B. Riley Financial restated a "buy" rating and set a $34.00 price objective (up from $30.00) on shares of EverQuote in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on EverQuote from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen cut EverQuote from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings raised EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.67.

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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