Dimensional Fund Advisors LP Buys 190,438 Shares of EverQuote, Inc. $EVER

Key Points

• Dimensional Fund Advisors increased its EverQuote stake by 37.7%, adding 190,438 shares to own 695,716 shares, or about 1.93% of the company. Institutional investors and hedge funds collectively hold 91.54% of EverQuote.
• EverQuote reported a strong quarter, with revenue up 24.6% year over year to $195.09 million and EPS of $0.53, narrowly exceeding analyst expectations. The company posted a 15.16% net margin and 50.29% return on equity.
• Analyst sentiment remains positive, with six analysts rating the stock a Buy and two assigning a Hold; EverQuote has a consensus rating of “Moderate Buy” and an average price target of $25.67. Shares opened at $25.71, while insiders have sold 27,586 shares worth $629,114 over the past three months.

Dimensional Fund Advisors LP grew its position in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 37.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 695,716 shares of the company's stock after purchasing an additional 190,438 shares during the period. Dimensional Fund Advisors LP owned approximately 1.93% of EverQuote worth $10,728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of EVER. Legato Capital Management LLC boosted its position in EverQuote by 179.9% during the fourth quarter. Legato Capital Management LLC now owns 86,717 shares of the company's stock valued at $2,341,000 after purchasing an additional 55,741 shares during the last quarter. K.J. Harrison & Partners Inc increased its position in shares of EverQuote by 539.0% during the 1st quarter. K.J. Harrison & Partners Inc now owns 63,900 shares of the company's stock worth $985,000 after purchasing an additional 53,900 shares during the last quarter. OP Asset Management Ltd bought a new stake in shares of EverQuote during the 1st quarter worth approximately $2,410,000. Allspring Global Investments Holdings LLC raised its stake in shares of EverQuote by 47.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company's stock worth $13,412,000 after purchasing an additional 293,160 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of EverQuote in the 4th quarter valued at approximately $3,853,000. 91.54% of the stock is owned by institutional investors and hedge funds.

EverQuote Stock Performance

NASDAQ:EVER opened at $25.71 on Monday. The company has a market cap of $926.33 million, a price-to-earnings ratio of 8.35 and a beta of 0.62. EverQuote, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The stock has a fifty day moving average price of $23.19 and a 200-day moving average price of $19.43.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EVER shares. JPMorgan Chase & Co. lifted their price target on EverQuote from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. B. Riley Financial restated a "buy" rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Wall Street Zen cut EverQuote from a "buy" rating to a "hold" rating in a research report on Saturday. Needham & Company LLC lifted their target price on EverQuote from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, EverQuote currently has a consensus rating of "Moderate Buy" and an average target price of $25.67.

Insiders Place Their Bets

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total transaction of $111,355.65. Following the transaction, the chief accounting officer directly owned 74,580 shares in the company, valued at approximately $1,801,107. This represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 6,667 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 311,908 shares of the company's stock, valued at $7,682,294.04. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 27,586 shares of company stock valued at $629,114. 23.68% of the stock is currently owned by company insiders.

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.

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