Picton Mahoney Asset Management Buys Shares of 39,340 EverQuote, Inc. $EVER

Picton Mahoney Asset Management bought a new stake in EverQuote, Inc. (NASDAQ:EVER) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 39,340 shares of the company’s stock, valued at approximately $900,000. Picton Mahoney Asset Management owned approximately 0.11% of EverQuote as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in EverQuote by 25.8% during the second quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock worth $68,000 after purchasing an additional 573 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of EverQuote by 108.9% in the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after acquiring an additional 601 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of EverQuote by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after buying an additional 624 shares during the period. Cetera Investment Advisers raised its stake in shares of EverQuote by 4.3% in the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock valued at $392,000 after acquiring an additional 675 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in EverQuote by 10.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,938 shares of the company’s stock valued at $240,000 after purchasing an additional 961 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

EverQuote Price Performance

NASDAQ EVER opened at $16.85 on Friday. EverQuote, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $30.03. The firm has a market cap of $607.11 million, a P/E ratio of 6.38 and a beta of 0.54. The stock’s 50-day moving average is $20.63 and its two-hundred day moving average is $22.85.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, February 23rd. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $1.19. The business had revenue of $195.32 million during the quarter, compared to analysts’ expectations of $176.82 million. EverQuote had a net margin of 14.34% and a return on equity of 57.65%. EverQuote’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. On average, equities analysts expect that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Transactions at EverQuote

In related news, CAO Jon Ayotte sold 1,730 shares of EverQuote stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $15.56, for a total transaction of $26,918.80. Following the sale, the chief accounting officer directly owned 86,202 shares of the company’s stock, valued at $1,341,303.12. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Brainard sold 5,709 shares of EverQuote stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total transaction of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares in the company, valued at $2,545,155.15. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,249 shares of company stock valued at $1,238,364 in the last ninety days. 25.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EVER. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. Wall Street Zen raised shares of EverQuote from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Zacks Research downgraded shares of EverQuote from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Needham & Company LLC lowered their price objective on shares of EverQuote from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of EverQuote from $32.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Six 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, EverQuote has an average rating of “Moderate Buy” and a consensus price target of $23.83.

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.