Envestnet Asset Management Inc. Takes Position in EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Envestnet Asset Management Inc. has made a new investment of approximately $983,000 in EverQuote, purchasing 37,530 shares, which now represents about 0.11% ownership in the company.
• Insider trading activity includes CEO Jayme Mendal selling 14,360 shares worth $357,133, resulting in a 2.65% decrease in his holdings.
• EverQuote's stock has recently seen a 2.0% decline, with a current market cap of $860.85 million and a consensus buy rating from analysts.

Envestnet Asset Management Inc. acquired a new position in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,530 shares of the company's stock, valued at approximately $983,000. Envestnet Asset Management Inc. owned 0.11% of EverQuote at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in EverQuote by 1,553.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 243,385 shares of the company's stock valued at $6,464,000 after purchasing an additional 228,663 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in EverQuote in the 1st quarter worth about $244,000. GAMMA Investing LLC lifted its holdings in shares of EverQuote by 3,600.0% during the 1st quarter. GAMMA Investing LLC now owns 8,695 shares of the company's stock valued at $228,000 after buying an additional 8,460 shares during the last quarter. Jump Financial LLC grew its stake in shares of EverQuote by 18.2% in the 4th quarter. Jump Financial LLC now owns 72,000 shares of the company's stock valued at $1,439,000 after buying an additional 11,072 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in EverQuote by 34.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,500 shares of the company's stock worth $950,000 after buying an additional 12,118 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company's stock.

Wall Street Analysts Forecast Growth

EVER has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $38.00 target price on shares of EverQuote in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $32.50.

EverQuote Stock Up 4.6%

EVER stock traded up $1.10 during mid-day trading on Wednesday, reaching $24.86. 209,072 shares of the stock traded hands, compared to its average volume of 547,415. The business has a 50-day moving average of $24.60 and a two-hundred day moving average of $23.83. The firm has a market capitalization of $887.82 million, a PE ratio of 20.09 and a beta of 0.37. EverQuote, Inc. has a 52 week low of $16.63 and a 52 week high of $30.03.

EverQuote (NASDAQ:EVER - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.04. The business had revenue of $156.63 million for the quarter, compared to the consensus estimate of $157.19 million. EverQuote had a return on equity of 39.38% and a net margin of 7.57%. The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, equities research analysts anticipate that EverQuote, Inc. will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at EverQuote

In other EverQuote news, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $24.30, for a total transaction of $48,600.00. Following the sale, the director directly owned 31,219 shares of the company's stock, valued at approximately $758,621.70. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Brainard sold 5,710 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $24.57, for a total value of $140,294.70. Following the transaction, the chief technology officer owned 128,720 shares of the company's stock, valued at $3,162,650.40. This trade represents a 4.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,162 shares of company stock worth $1,524,781 in the last 90 days. 29.79% of the stock is currently owned by insiders.

EverQuote Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.