OP Asset Management Ltd Invests $2.41 Million in EverQuote, Inc. $EVER

Key Points

• OP Asset Management bought a new stake in EverQuote during the first quarter, acquiring 156,273 shares valued at about $2.41 million and representing roughly 0.43% of the company.
• EverQuote reported better-than-expected Q1 results, with EPS of $0.51 versus $0.43 expected and revenue of $190.85 million versus $180.10 million estimated; revenue rose 14.6% year over year.
• Analysts remain broadly positive on the stock, with JPMorgan raising its target to $24, Needham reiterating a $25 target, and the consensus rating sitting at Moderate Buy with a $24.17 price target.

OP Asset Management Ltd purchased a new stake in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 156,273 shares of the company's stock, valued at approximately $2,410,000. OP Asset Management Ltd owned approximately 0.43% of EverQuote as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the company. Invesco Ltd. grew its stake in EverQuote by 31.6% in the fourth quarter. Invesco Ltd. now owns 49,143 shares of the company's stock worth $1,327,000 after purchasing an additional 11,808 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in EverQuote by 40.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,343 shares of the company's stock valued at $360,000 after purchasing an additional 3,813 shares in the last quarter. NewEdge Advisors LLC raised its position in EverQuote by 484.3% during the 4th quarter. NewEdge Advisors LLC now owns 13,223 shares of the company's stock valued at $357,000 after purchasing an additional 10,960 shares in the last quarter. Zacks Investment Management lifted its holdings in shares of EverQuote by 1.2% in the 4th quarter. Zacks Investment Management now owns 66,281 shares of the company's stock worth $1,790,000 after buying an additional 782 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of EverQuote in the 4th quarter worth $265,000. Hedge funds and other institutional investors own 91.54% of the company's stock.

Insider Buying and Selling

In other EverQuote news, CTO David Brainard sold 9,942 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $19.42, for a total value of $193,073.64. Following the completion of the transaction, the chief technology officer owned 180,493 shares of the company's stock, valued at approximately $3,505,174.06. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Sanborn sold 20,000 shares of EverQuote stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $20.70, for a total transaction of $414,000.00. Following the sale, the chief financial officer owned 337,660 shares of the company's stock, valued at $6,989,562. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,814 shares of company stock worth $829,255 in the last 90 days. 23.68% of the stock is currently owned by company insiders.

EverQuote Stock Performance

Shares of EVER stock opened at $23.20 on Friday. EverQuote, Inc. has a fifty-two week low of $13.88 and a fifty-two week high of $28.73. The firm has a market capitalization of $835.90 million, a price-to-earnings ratio of 7.89 and a beta of 0.65. The stock's 50-day simple moving average is $18.89 and its 200-day simple moving average is $19.74.

EverQuote (NASDAQ:EVER - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.43 by $0.08. The firm had revenue of $190.85 million during the quarter, compared to analyst estimates of $180.10 million. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. EverQuote's revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. As a group, equities analysts forecast that EverQuote, Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EVER. 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. Wall Street Zen raised shares of EverQuote from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Weiss Ratings upgraded shares of EverQuote from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.17.

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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