EverQuote (NASDAQ:EVER) Trading Down 5.7% – Time to Sell?

EverQuote, Inc. (NASDAQ:EVER) traded down 5.7% on Tuesday . The company traded as low as $21.92 and last traded at $21.5270. Approximately 59,175 shares changed hands during trading, a decline of 93% from the average daily volume of 815,871 shares. The stock had previously closed at $22.83.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EVER shares. JPMorgan Chase & Co. initiated coverage on shares of EverQuote in a research report on Monday, August 24th. They issued an “overweight” rating and a $29.00 target price for the company. B. Riley Financial reiterated a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. Raymond James Financial reissued an “outperform” rating and set a $28.00 target price on shares of EverQuote in a report on Thursday, August 13th. Needham & Company LLC upped their target price on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.17.

EverQuote Trading Down 17.0%

The firm has a market capitalization of $682.88 million, a P/E ratio of 6.15 and a beta of 0.67. The business’s fifty day moving average is $24.98 and its 200 day moving average is $20.82.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. As a group, sell-side analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 4,960 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $25.51, for a total transaction of $126,529.60. Following the sale, the chief technology officer owned 165,336 shares in the company, valued at approximately $4,217,721.36. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mira Wilczek sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.07, for a total transaction of $238,165.00. Following the sale, the director directly owned 110,353 shares of the company’s stock, valued at $2,766,549.71. This represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 63,024 shares of company stock worth $1,567,321 over the last three months. Company insiders own 23.68% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of EverQuote by 28.9% in the first quarter. Renaissance Technologies LLC now owns 941,467 shares of the company’s stock valued at $14,517,000 after purchasing an additional 211,360 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in EverQuote by 47.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company’s stock valued at $13,412,000 after buying an additional 293,160 shares during the period. Arrowstreet Capital Limited Partnership raised its position in EverQuote by 1.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 743,869 shares of the company’s stock valued at $11,470,000 after buying an additional 13,276 shares during the period. Dimensional Fund Advisors LP lifted its stake in EverQuote by 37.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company’s stock worth $10,728,000 after acquiring an additional 190,438 shares in the last quarter. Finally, Jacobs Asset Management LLC lifted its stake in EverQuote by 199.9% in the 1st quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company’s stock worth $6,219,000 after acquiring an additional 268,819 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

EverQuote Company Profile

EverQuote, Inc (NASDAQ: EVER) operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote’s marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.