Meeder Asset Management Inc. Increases Stock Position in EverQuote, Inc. $EVER

Key Points

• Meeder Asset Management boosted its EverQuote stake by 406.3% in the first quarter, buying 102,813 additional shares and bringing its holdings to 128,116 shares worth about $1.98 million.
• EverQuote has drawn a mostly bullish view from analysts, with six Buy ratings and two Hold ratings, giving it a Moderate Buy consensus and an average price target of $24.17.
• The company reported strong quarterly results, with EPS of $0.51 and revenue of $190.85 million, both above estimates, while the stock traded up and recently opened near its 12-month high.

Meeder Asset Management Inc. raised its stake in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 406.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,116 shares of the company's stock after acquiring an additional 102,813 shares during the period. Meeder Asset Management Inc. owned 0.36% of EverQuote worth $1,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in EVER. Comerica Bank grew its stake in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company's stock worth $25,000 after buying an additional 772 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in EverQuote in the third quarter valued at approximately $52,000. Clearstead Advisors LLC boosted its holdings in shares of EverQuote by 70.5% in the fourth 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. Tower Research Capital LLC TRC boosted its holdings in shares of EverQuote by 271.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company's stock valued at $79,000 after acquiring an additional 2,381 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of EverQuote during the fourth quarter worth approximately $84,000. Institutional investors and hedge funds own 91.54% of the company's stock.

Wall Street Analysts Forecast Growth

EVER has been the topic of a number of recent research reports. Wall Street Zen cut shares of EverQuote from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of EverQuote in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.17.

EverQuote Trading Up 5.3%

NASDAQ:EVER opened at $27.54 on Tuesday. EverQuote, Inc. has a 12-month low of $13.88 and a 12-month high of $28.73. The stock's 50 day simple moving average is $21.36 and its 200-day simple moving average is $19.47. The firm has a market cap of $992.27 million, a P/E ratio of 9.37 and a beta of 0.61.

EverQuote (NASDAQ:EVER - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.08. The firm had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The company's revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. Research analysts forecast that EverQuote, Inc. will post 1.72 EPS for the current fiscal year.

Insider Transactions at EverQuote

In other news, CFO Joseph Sanborn sold 6,667 shares of EverQuote stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.63, for a total value of $164,208.21. Following the sale, the chief financial officer owned 311,908 shares of the company's stock, valued at $7,682,294.04. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Brainard sold 4,960 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $25.51, for a total transaction of $126,529.60. Following the transaction, the chief technology officer directly owned 165,336 shares of the company's stock, valued at $4,217,721.36. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 57,891 shares of company stock worth $1,243,447. Company insiders own 23.68% of the company's stock.

EverQuote Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.