Federated Hermes Inc. Cuts Position in 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. cut its stake in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 96.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EVER. Vanguard Group Inc. boosted 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 purchasing an additional 24,347 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in EverQuote by 308.0% in the fourth quarter. Alliancebernstein L.P. now owns 108,890 shares of the company's stock valued at $2,177,000 after purchasing an additional 82,200 shares in the last quarter. Franklin Resources Inc. boosted its holdings in EverQuote by 86.1% in the fourth quarter. Franklin Resources Inc. now owns 109,372 shares of the company's stock valued at $2,186,000 after purchasing an additional 50,591 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 5,210 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in EverQuote by 4.8% in the fourth quarter. Legal & General Group Plc now owns 21,985 shares of the company's stock valued at $439,000 after purchasing an additional 1,012 shares in the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EverQuote

In other news, General Counsel Julia Brncic sold 1,808 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $24.31, for a total transaction of $43,952.48. Following the completion of the sale, the general counsel owned 123,397 shares in the company, valued at $2,999,781.07. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Lllp Link sold 900,000 shares of the company's stock in a transaction that occurred on Sunday, August 10th. The stock was sold at an average price of $23.33, for a total value of $20,997,000.00. Following the sale, the insider owned 2,598,154 shares of the company's stock, valued at $60,614,932.82. This trade represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 962,043 shares of company stock valued at $22,494,611. Corporate insiders own 25.52% of the company's stock.

EverQuote Price Performance

Shares of EVER stock traded up $0.12 during trading hours on Friday, hitting $23.47. The stock had a trading volume of 60,860 shares, compared to its average volume of 548,006. The firm has a market capitalization of $838.35 million, a PE ratio of 18.96 and a beta of 0.37. EverQuote, Inc. has a twelve month low of $16.63 and a twelve month high of $30.03. The stock's 50 day moving average is $24.62 and its 200 day moving average is $24.05.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its quarterly earnings data 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. EverQuote had a return on equity of 36.90% and a net margin of 7.57%. The business had revenue of $156.63 million during the quarter, compared to the consensus estimate of $157.19 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company's revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on EverQuote from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of EverQuote in a report on Tuesday, August 5th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, 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.