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

Jacobs Asset Management LLC decreased its position in EverQuote, Inc. (NASDAQ:EVER) by 31.2% during the fourth quarter, Holdings Channel reports. The firm owned 134,481 shares of the company’s stock after selling 61,035 shares during the quarter. EverQuote comprises 2.0% of Jacobs Asset Management LLC’s portfolio, making the stock its 19th largest holding. Jacobs Asset Management LLC’s holdings in EverQuote were worth $3,631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank raised its position in EverQuote by 235.4% in the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after purchasing an additional 772 shares during the period. NewEdge Advisors LLC purchased a new stake in EverQuote in the third quarter valued at approximately $52,000. Clearstead Advisors LLC raised its position in 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 purchasing an additional 826 shares during the period. Jones Financial Companies Lllp raised its position in EverQuote by 595.8% in the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after purchasing an additional 2,246 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 2,381 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Analyst Ratings Changes

EVER has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of EverQuote in a research report on Tuesday, May 5th. Craig Hallum reissued a “buy” rating and issued a $20.00 target price on shares of EverQuote in a research report on Tuesday, February 24th. B. Riley Financial cut their target price on EverQuote from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Wall Street Zen lowered EverQuote from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Insider Activity

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

EverQuote Trading Up 0.7%

Shares of EVER stock opened at $19.98 on Friday. The firm has a fifty day moving average price of $17.82 and a 200 day moving average price of $20.14. The company has a market cap of $719.88 million, a P/E ratio of 6.80 and a beta of 0.65. EverQuote, Inc. has a 12 month low of $13.88 and a 12 month high of $28.73.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, beating 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 firm had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $180.10 million. During the same period in the previous year, the company earned $0.21 earnings per share. EverQuote’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities analysts forecast that EverQuote, Inc. will post 2.06 EPS for the current 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.