Granahan Investment Management LLC Lowers Holdings in EverQuote, Inc. $EVER

Key Points

• Granahan Investment Management LLC reduced its stock position in EverQuote, Inc. by 56.4%, owning 200,076 shares valued at $5.24 million after selling 258,822 shares in the first quarter.
• Other investors, such as Allspring Global Investments and GAMMA Investing LLC, significantly increased their stakes, indicating varied investor interest in EverQuote.
• EverQuote reported a strong earnings performance, with $0.39 EPS, beating analyst estimates, and has set a target price of $38.00 according to Needham & Company LLC.

Granahan Investment Management LLC lessened its stake in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 56.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,076 shares of the company's stock after selling 258,822 shares during the quarter. Granahan Investment Management LLC owned approximately 0.56% of EverQuote worth $5,240,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of EverQuote by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,383 shares of the company's stock worth $288,000 after purchasing an additional 608 shares during the period. Algert Global LLC grew its holdings in shares of EverQuote by 3.8% during the first quarter. Algert Global LLC now owns 53,658 shares of the company's stock worth $1,405,000 after purchasing an additional 1,940 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of EverQuote by 11.8% during the fourth quarter. California State Teachers Retirement System now owns 24,781 shares of the company's stock worth $495,000 after purchasing an additional 2,624 shares during the last quarter. State of Wyoming grew its holdings in shares of EverQuote by 51.5% during the fourth quarter. State of Wyoming now owns 11,353 shares of the company's stock worth $227,000 after purchasing an additional 3,858 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of EverQuote by 88.7% during the fourth quarter. Jane Street Group LLC now owns 12,081 shares of the company's stock worth $241,000 after purchasing an additional 5,678 shares during the last quarter. Institutional investors and hedge funds own 91.54% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, 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. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $32.40.

Insider Buying and Selling at EverQuote

In related news, major shareholder Ventures Lllp Link sold 900,000 shares of the firm'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 transaction of $20,997,000.00. Following the transaction, the insider directly owned 2,598,154 shares in the company, valued at $60,614,932.82. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David Brainard sold 1,291 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $23.50, for a total value of $30,338.50. Following the completion of the transaction, the chief technology officer owned 126,220 shares of the company's stock, valued at approximately $2,966,170. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,250 shares of company stock worth $22,420,509 in the last three months. 25.52% of the stock is currently owned by corporate insiders.

EverQuote Stock Performance

Shares of NASDAQ EVER traded down $0.86 during midday trading on Wednesday, hitting $23.45. 93,095 shares of the stock traded hands, compared to its average volume of 537,858. The company has a market cap of $856.23 million, a PE ratio of 18.91 and a beta of 0.54. EverQuote, Inc. has a one year low of $16.63 and a one year high of $30.03. The business has a 50 day moving average price of $24.14 and a two-hundred day moving average price of $24.32.

EverQuote (NASDAQ:EVER - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $156.63 million during the quarter, compared to the consensus estimate of $157.19 million. EverQuote had a return on equity of 36.90% and a net margin of 7.57%.The company's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. EverQuote has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that EverQuote, Inc. will post 0.72 EPS for the current fiscal year.

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.