EverQuote, Inc. $EVER Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its EverQuote stake by 88.5% in the second quarter, selling 114,189 shares and retaining 14,850 shares valued at approximately $353,000. Institutional investors still own 91.54% of the company.
• Analyst sentiment remains broadly positive, with EverQuote carrying a “Moderate Buy” consensus rating and an average price target of $28.17; individual targets include $28 from Raymond James and $29 from JPMorgan.
• EverQuote reported stronger-than-expected quarterly results, with EPS of $0.53 versus a $0.52 estimate and revenue of $195.09 million, up 24.6% year over year. Shares opened at $18.06, within a 52-week range of $13.88 to $28.73.

Engineers Gate Manager LP lowered its holdings in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 88.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,850 shares of the company's stock after selling 114,189 shares during the quarter. Engineers Gate Manager LP's holdings in EverQuote were worth $353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its stake in 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 purchasing an additional 211,360 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of EverQuote by 47.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company's stock valued at $13,412,000 after buying an additional 293,160 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in EverQuote by 1.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 743,869 shares of the company's stock worth $11,470,000 after acquiring an additional 13,276 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in EverQuote by 37.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company's stock worth $10,728,000 after acquiring an additional 190,438 shares in the last quarter. Finally, Jacobs Asset Management LLC lifted its position in EverQuote by 199.9% in the first quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company's stock valued at $6,219,000 after acquiring an additional 268,819 shares during the last quarter. Institutional investors and hedge funds own 91.54% of the company's stock.

Insiders Place Their Bets

In related news, CTO David Brainard sold 4,960 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $25.51, for a total value of $126,529.60. Following the sale, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jon Ayotte sold 4,611 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total transaction of $111,355.65. Following the transaction, the chief accounting officer owned 74,580 shares of the company's stock, valued at $1,801,107. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 63,024 shares of company stock valued at $1,567,321. Company insiders own 23.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on EVER. Raymond James Financial reaffirmed an "outperform" rating and set a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. Weiss Ratings raised EverQuote from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 26th. JPMorgan Chase & Co. started coverage on EverQuote in a research report on Monday, August 24th. They issued an "overweight" rating and a $29.00 target price for the company. Wall Street Zen downgraded EverQuote from a "buy" rating to a "hold" rating in a research note on Sunday, September 20th. Finally, Zacks Research cut EverQuote from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, EverQuote presently has an average rating of "Moderate Buy" and an average price target of $28.17.

EverQuote Stock Up 2.4%

Shares of EverQuote stock opened at $18.06 on Friday. The firm has a market cap of $650.70 million, a price-to-earnings ratio of 5.86 and a beta of 0.67. EverQuote, Inc. has a 52-week low of $13.88 and a 52-week high of $28.73. The company's 50-day simple moving average is $24.54 and its 200-day simple moving average is $20.85.

EverQuote (NASDAQ:EVER - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The firm had revenue of $195.09 million during the quarter, compared to analysts' expectations of $191.06 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. EverQuote's revenue was up 24.6% compared to the same quarter last year. Equities research analysts anticipate that EverQuote, Inc. will post 1.72 EPS for the current year.

EverQuote Profile

EverQuote, Inc NASDAQ: EVER operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote's marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.

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