Lazard Asset Management LLC Decreases Stock Holdings in EverQuote, Inc. $EVER

Lazard Asset Management LLC decreased its stake in shares of EverQuote, Inc. (NASDAQ:EVER) by 45.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 495,946 shares of the company’s stock after selling 405,261 shares during the period. Lazard Asset Management LLC’s holdings in EverQuote were worth $7,647,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EVER. Royal Bank of Canada grew its position in EverQuote by 1,705.9% in the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock worth $1,713,000 after purchasing an additional 61,805 shares during the period. Amundi purchased a new stake in EverQuote during the 1st quarter valued at $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of EverQuote by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after buying an additional 624 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of EverQuote by 615.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock valued at $8,896,000 after buying an additional 292,172 shares during the period. Finally, Creative Planning boosted its stake in shares of EverQuote by 32.4% in the 2nd quarter. Creative Planning now owns 10,526 shares of the company’s stock worth $255,000 after buying an additional 2,576 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVER. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of EverQuote in a report on Tuesday, May 5th. Wall Street Zen raised EverQuote from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

EverQuote Stock Down 6.6%

Shares of EverQuote stock opened at $25.05 on Friday. The stock’s 50-day simple moving average is $22.55 and its 200-day simple moving average is $19.48. EverQuote, Inc. has a 52 week low of $13.88 and a 52 week high of $28.73. The company has a market capitalization of $902.55 million, a price-to-earnings ratio of 8.52 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, May 4th. The company reported $0.51 earnings per share (EPS) 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 analysts’ expectations of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. On average, equities analysts expect that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Insider Transactions at EverQuote

In related news, CFO Joseph Sanborn sold 20,000 shares of the company’s stock in a transaction on 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 owned 337,660 shares in the company, valued at approximately $6,989,562. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total transaction of $111,355.65. Following the transaction, the chief accounting officer directly owned 74,580 shares of the company’s stock, valued at $1,801,107. The trade was a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 57,891 shares of company stock valued at $1,243,447. 23.68% of the stock is currently owned by corporate insiders.

EverQuote 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.