EverQuote (NASDAQ:EVER) Trading Down 5.6% on Insider Selling

EverQuote, Inc. (NASDAQ:EVER) shares fell 5.6% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $25.14 and last traded at $24.87. 158,722 shares traded hands during trading, a decline of 59% from the average session volume of 383,467 shares. The stock had previously closed at $26.34.

Specifically, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $25.73, for a total value of $51,460.00. Following the transaction, the director directly owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David Brainard sold 5,709 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total value of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares of the company’s stock, valued at approximately $2,545,155.15. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Zacks Research raised shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Needham & Company LLC raised their target price on EverQuote from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $34.00.

EverQuote Price Performance

The stock’s 50-day simple moving average is $26.23 and its two-hundred day simple moving average is $24.33. The firm has a market capitalization of $890.37 million, a P/E ratio of 17.31 and a beta of 0.46.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, November 3rd. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. The company had revenue of $173.94 million for the quarter, compared to analysts’ expectations of $166.09 million. EverQuote had a net margin of 8.36% and a return on equity of 38.19%. EverQuote’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. On average, analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EverQuote

Large investors have recently made changes to their positions in the business. Comerica Bank grew 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 in the last quarter. Versant Capital Management Inc boosted its stake in EverQuote by 108.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after purchasing an additional 601 shares during the period. NewEdge Advisors LLC bought a new position in EverQuote in the 3rd quarter worth approximately $52,000. Jones Financial Companies Lllp grew its holdings in EverQuote by 595.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after buying an additional 2,246 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of EverQuote by 25.8% during the second quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock valued at $68,000 after buying an additional 573 shares during the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

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.