Federated Hermes Inc. Sells 50,352 Shares of EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Federated Hermes Inc. significantly reduced its stake in EverQuote, Inc. by selling 50,352 shares, now holding only 1,972 shares valued at $52,000.
• Insider transactions included CFO Joseph Sanborn selling 1,063 shares and General Counsel Julia Brncic selling 1,808 shares, indicating decreases in their positions.
• EverQuote reported earnings of $0.39 per share, exceeding estimates, with revenue up 33.7% year-over-year, reflecting strong performance despite a competitive market.

Federated Hermes Inc. decreased its position in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 96.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,972 shares of the company's stock after selling 50,352 shares during the quarter. Federated Hermes Inc.'s holdings in EverQuote were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in EverQuote by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company's stock valued at $40,314,000 after acquiring an additional 24,347 shares during the period. Divisadero Street Capital Management LP bought a new position in EverQuote in the fourth quarter valued at about $12,311,000. Geode Capital Management LLC lifted its holdings in EverQuote by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 600,365 shares of the company's stock valued at $12,004,000 after acquiring an additional 5,210 shares during the period. Freestone Grove Partners LP bought a new position in EverQuote in the fourth quarter valued at about $11,618,000. Finally, Renaissance Technologies LLC lifted its holdings in EverQuote by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 469,087 shares of the company's stock valued at $9,377,000 after acquiring an additional 116,100 shares during the period. Institutional investors own 91.54% of the company's stock.

Insider Transactions at EverQuote

In other news, CFO Joseph Sanborn sold 1,063 shares of EverQuote stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $24.13, for a total value of $25,650.19. Following the completion of the transaction, the chief financial officer owned 261,390 shares in the company, valued at approximately $6,307,340.70. The trade was a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julia Brncic sold 1,808 shares of EverQuote stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $24.31, for a total value of $43,952.48. Following the completion of the transaction, the general counsel owned 123,397 shares of the company's stock, valued at approximately $2,999,781.07. This trade represents a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,162 shares of company stock worth $1,524,781. 29.79% of the stock is currently owned by corporate insiders.

EverQuote Trading Down 1.6%

Shares of EVER opened at $23.75 on Monday. The business's 50 day moving average is $24.67 and its 200 day moving average is $23.99. The company has a market capitalization of $848.45 million, a PE ratio of 19.15 and a beta of 0.37. EverQuote, Inc. has a 12-month low of $16.63 and a 12-month high of $30.03.

EverQuote (NASDAQ:EVER - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The business had revenue of $156.63 million during the quarter, compared to analysts' expectations of $157.19 million. EverQuote had a return on equity of 36.90% 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 quarter last year, the business posted $0.17 EPS. Equities research analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Analyst Ratings Changes

EVER has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 price objective on shares of EverQuote in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $32.40.

About EverQuote

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.

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