Jacobs Asset Management LLC Decreases Position in EverQuote, Inc. $EVER

Key Points

• Jacobs Asset Management cut its EverQuote stake by 31.2% in the fourth quarter, selling 61,035 shares and leaving it with 134,481 shares valued at about $3.63 million.
• Several EverQuote insiders sold stock, including CTO David Brainard and CFO Joseph Sanborn, with insiders selling 41,814 shares worth $829,255 over the last quarter.
• EverQuote beat first-quarter expectations, reporting $0.51 EPS on revenue of $190.85 million, while analysts remain broadly positive with a consensus Moderate Buy rating and average target price of $24.17.

Jacobs Asset Management LLC lessened its holdings in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,481 shares of the company's stock after selling 61,035 shares during the period. EverQuote makes up about 2.0% of Jacobs Asset Management LLC's portfolio, making the stock its 19th biggest holding. Jacobs Asset Management LLC owned about 0.37% of EverQuote worth $3,631,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Comerica Bank increased its position in shares of EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company's stock valued at $25,000 after acquiring an additional 772 shares during the period. Clearstead Advisors LLC increased its position in shares of EverQuote by 70.5% in the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company's stock valued at $54,000 after acquiring an additional 826 shares during the period. NewEdge Advisors LLC acquired a new position in shares of EverQuote in the 3rd quarter valued at $52,000. Jones Financial Companies Lllp increased its position in shares of EverQuote by 595.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company's stock valued at $62,000 after acquiring an additional 2,246 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of EverQuote in the 4th quarter valued at $84,000. 91.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO David Brainard sold 9,942 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $19.42, for a total value of $193,073.64. Following the transaction, the chief technology officer directly owned 180,493 shares in the company, valued at approximately $3,505,174.06. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph Sanborn sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $20.70, for a total value of $414,000.00. Following the completion of the transaction, the chief financial officer owned 337,660 shares in the company, valued at $6,989,562. This represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,814 shares of company stock worth $829,255 over the last quarter. 23.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EVER shares. JPMorgan Chase & Co. increased their price target on EverQuote from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Raymond James Financial reaffirmed an "outperform" rating and set a $18.00 price target on shares of EverQuote in a research report on Tuesday, February 17th. Canaccord Genuity Group cut their price target on EverQuote from $33.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. B. Riley Financial cut their price target on EverQuote from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, February 24th. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.17.

EverQuote Trading Up 0.7%

EVER stock opened at $19.98 on Friday. EverQuote, Inc. has a 12-month low of $13.88 and a 12-month high of $28.73. The stock has a market cap of $719.88 million, a price-to-earnings ratio of 6.80 and a beta of 0.65. The business's 50-day moving average is $17.82 and its 200 day moving average is $20.14.

EverQuote (NASDAQ:EVER - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.08. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The business had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. During the same period last year, the company posted $0.21 EPS. The business's revenue was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that EverQuote, Inc. will post 2.06 EPS for the current fiscal year.

About EverQuote

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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