Hsbc Holdings PLC Has $965,000 Holdings in EverQuote, Inc. $EVER

Hsbc Holdings PLC boosted its holdings in shares of EverQuote, Inc. (NASDAQ:EVER) by 102.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 61,724 shares of the company’s stock after purchasing an additional 31,281 shares during the period. Hsbc Holdings PLC’s holdings in EverQuote were worth $965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Comerica Bank raised its position in shares of EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after purchasing an additional 772 shares during the period. NewEdge Advisors LLC acquired a new position in shares of EverQuote in the 3rd quarter valued at approximately $52,000. Clearstead Advisors LLC increased its stake in EverQuote by 70.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after purchasing an additional 826 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in EverQuote by 271.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock worth $79,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in EverQuote during the 4th quarter worth approximately $84,000. 91.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Joseph Sanborn sold 20,000 shares of the 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 document filed with the SEC, 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 completion of the transaction, the chief accounting officer directly owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their position. 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 90 days, insiders sold 57,891 shares of company stock worth $1,243,447. 23.68% of the stock is owned by insiders.

EverQuote Stock Performance

NASDAQ EVER opened at $27.15 on Wednesday. The stock has a market capitalization of $978.21 million, a price-to-earnings ratio of 9.23 and a beta of 0.61. The stock’s 50 day moving average price is $22.26 and its two-hundred day moving average price is $19.47. EverQuote, Inc. has a 52 week low of $13.88 and a 52 week high of $28.73.

EverQuote (NASDAQ:EVER) last released its quarterly earnings results on Monday, May 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The firm had revenue of $190.85 million during the quarter, compared to the consensus estimate of $180.10 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The business’s revenue was up 14.6% on a year-over-year basis. On average, equities research analysts forecast that EverQuote, Inc. will post 1.72 EPS for the current year.

Wall Street Analyst Weigh In

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