EverQuote, Inc. $EVER Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its EverQuote stake by 49.8% in the first quarter, selling 113,128 shares. Despite this, institutional investors and hedge funds collectively own 91.54% of EVER, with several firms—including Amundi, Quantinno Capital, and Renaissance Technologies—adding shares.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $28.17. Recent targets include $29 from JPMorgan, $28 from Raymond James, and $30 from Needham.
• EverQuote reported quarterly EPS of $0.53, slightly ahead of estimates, while revenue rose 24.6% year over year to $195.09 million. The stock opened at $25.31, near its 50-day average, although insiders sold approximately $1.19 million of shares over the past three months.

Bank of America Corp DE lessened its stake in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 49.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,100 shares of the company's stock after selling 113,128 shares during the quarter. Bank of America Corp DE owned 0.32% of EverQuote worth $1,759,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Amundi boosted its position in shares of EverQuote by 198.5% during the 1st quarter. Amundi now owns 119,848 shares of the company's stock worth $1,848,000 after purchasing an additional 79,700 shares during the period. Royal Bank of Canada lifted its stake in EverQuote by 15.2% during the first quarter. Royal Bank of Canada now owns 60,404 shares of the company's stock worth $931,000 after purchasing an additional 7,959 shares in the last quarter. Quantinno Capital Management LP lifted its stake in EverQuote by 254.6% during the first quarter. Quantinno Capital Management LP now owns 115,013 shares of the company's stock worth $1,774,000 after purchasing an additional 82,579 shares in the last quarter. Jacobs Asset Management LLC boosted its position in shares of EverQuote by 199.9% during the first quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company's stock worth $6,219,000 after buying an additional 268,819 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of EverQuote by 28.9% in the first quarter. Renaissance Technologies LLC now owns 941,467 shares of the company's stock valued at $14,517,000 after buying an additional 211,360 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on EVER. Wall Street Zen lowered EverQuote from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised EverQuote from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. started coverage on shares of EverQuote in a research note on Monday, August 24th. They set an "overweight" rating and a $29.00 price target on the stock. Raymond James Financial reissued an "outperform" rating and issued a $28.00 price objective on shares of EverQuote in a research note on Thursday, August 13th. Finally, Needham & Company LLC lifted their price objective on shares of EverQuote from $25.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.17.

Insider Activity at EverQuote

In other news, Director John L. Shields sold 3,126 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $26.39, for a total transaction of $82,495.14. Following the sale, the director owned 31,198 shares of the company's stock, valued at approximately $823,315.22. This trade represents a 9.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David Brainard sold 1,097 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $26.47, for a total value of $29,037.59. Following the sale, the chief technology officer owned 163,030 shares of the company's stock, valued at approximately $4,315,404.10. The trade was a 0.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,709 shares of company stock worth $1,186,632 over the last three months. Company insiders own 23.68% of the company's stock.

EverQuote Stock Down 0.7%

Shares of NASDAQ:EVER opened at $25.31 on Friday. EverQuote, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The firm's 50 day moving average price is $25.18 and its 200 day moving average price is $20.10. The stock has a market cap of $911.92 million, a price-to-earnings ratio of 8.22 and a beta of 0.67.

EverQuote (NASDAQ:EVER - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. The business had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The company's revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. On average, equities analysts anticipate that EverQuote, Inc. will post 1.72 EPS for the current year.

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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