EverQuote (NASDAQ:EVER) Stock Price Down 4.8% – Here’s Why

EverQuote, Inc. (NASDAQ:EVERGet Free Report) dropped 4.8% on Tuesday . The stock traded as low as $26.56 and last traded at $26.22. 343,549 shares traded hands during trading, a decline of 61% from the average session volume of 873,372 shares. The stock had previously closed at $27.54.

Wall Street Analyst Weigh In

EVER has been the subject of several research reports. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Wall Street Zen lowered shares of EverQuote from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of EverQuote in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their price objective on EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, EverQuote currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

View Our Latest Stock Report on EVER

EverQuote Stock Down 6.7%

The stock has a market cap of $925.68 million, a PE ratio of 8.76 and a beta of 0.61. The stock’s fifty day moving average price is $21.36 and its 200 day moving average price is $19.47.

EverQuote (NASDAQ:EVERGet Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.51 EPS 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 business had revenue of $190.85 million during the quarter, compared to analyst estimates of $180.10 million. During the same quarter last year, the company earned $0.21 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts expect that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

Insider Activity at EverQuote

In other EverQuote news, CTO David Brainard sold 4,960 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $25.51, for a total value of $126,529.60. Following the transaction, the chief technology officer owned 165,336 shares of the company’s stock, valued at approximately $4,217,721.36. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph Sanborn sold 6,667 shares of EverQuote stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.63, for a total transaction of $164,208.21. Following the transaction, the chief financial officer owned 311,908 shares in the company, valued at $7,682,294.04. This represents a 2.09% decrease in their position. The SEC filing for this sale provides additional information. 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.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in EverQuote by 81.7% in the fourth quarter. Lazard Asset Management LLC now owns 901,207 shares of the company’s stock worth $24,333,000 after acquiring an additional 405,237 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of EverQuote by 110.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock worth $15,720,000 after purchasing an additional 361,082 shares during the period. AQR Capital Management LLC increased its position in shares of EverQuote by 95.1% during the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock valued at $15,853,000 after purchasing an additional 319,618 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of EverQuote by 47.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after purchasing an additional 293,160 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in EverQuote by 615.1% during the first 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 acquiring an additional 292,172 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Company Profile

(Get Free Report)

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.

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