EverQuote (NASDAQ:EVER) Shares Down 5.6% – Should You Sell?

EverQuote, Inc. (NASDAQ:EVER) was down 5.6% during trading on Wednesday . The company traded as low as $25.14 and last traded at $24.87. Approximately 158,722 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 383,467 shares. The stock had previously closed at $26.34.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a research note on Wednesday, October 8th. Needham & Company LLC upped their target price on shares of EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. One equities research 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. According to MarketBeat.com, EverQuote has a consensus rating of “Buy” and a consensus target price of $34.00.

EverQuote Trading Down 5.4%

The firm has a market capitalization of $896.09 million, a price-to-earnings ratio of 17.37 and a beta of 0.46. The firm has a fifty day moving average price of $26.23 and a 200 day moving average price of $24.32.

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

Insider Transactions at EverQuote

In other news, CAO Jon Ayotte sold 3,639 shares of EverQuote stock in a transaction on Monday, December 1st. The stock was sold at an average price of $26.76, for a total value of $97,379.64. Following the completion of the sale, the chief accounting officer directly owned 49,233 shares of the company’s stock, valued at approximately $1,317,475.08. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayme Mendal sold 14,360 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $23.55, for a total value of $338,178.00. Following the transaction, the chief executive officer directly owned 452,412 shares in the company, valued at $10,654,302.60. This trade represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 56,836 shares of company stock worth $1,358,539. Corporate insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. acquired a new stake in shares of EverQuote during the 2nd quarter worth approximately $10,170,000. Balyasny Asset Management L.P. raised its position in shares of EverQuote by 110.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock valued at $15,720,000 after acquiring an additional 361,082 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of EverQuote by 95.1% in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of EverQuote by 615.1% in 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 worth $8,896,000 after purchasing an additional 292,172 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of EverQuote by 138.2% during the third quarter. Lazard Asset Management LLC now owns 495,970 shares of the company’s stock worth $11,343,000 after purchasing an additional 287,756 shares during the period. 91.54% of the stock is currently owned by institutional investors and hedge funds.

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.