Insider Selling: EverQuote (NASDAQ:EVER) CEO Sells $413,096.20 in Stock

EverQuote, Inc. (NASDAQ:EVER) CEO Jayme Mendal sold 20,980 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $19.69, for a total value of $413,096.20. Following the completion of the transaction, the chief executive officer directly owned 557,828 shares in the company, valued at $10,983,633.32. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jayme Mendal also recently made the following trade(s):

• On Tuesday, September 15th, Jayme Mendal sold 20,981 shares of EverQuote stock. The stock was sold at an average price of $24.27, for a total value of $509,208.87.

EverQuote Stock Performance

NASDAQ:EVER opened at $19.39 on Thursday. The company has a market cap of $698.62 million, a price-to-earnings ratio of 6.30 and a beta of 0.68. EverQuote, Inc. has a twelve month low of $13.88 and a twelve month high of $28.73. The stock has a fifty day simple moving average of $23.31 and a 200-day simple moving average of $21.06.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EVER shares. Needham & Company LLC lifted their target price on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Raymond James Financial restated an “outperform” rating and issued a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. B. Riley Financial reaffirmed a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Finally, Zacks Research raised shares of EverQuote from a “strong sell” rating to a “hold” rating in a research report on Friday, October 2nd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.17.

Institutional Inflows and Outflows

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

EverQuote Company Profile

EverQuote, Inc operates an online marketplace that helps consumers compare insurance options and connect with insurance providers. Its platform uses data, digital marketing and technology to match consumers seeking coverage with insurers and other insurance-related providers.

The company has primarily focused on auto insurance, while also supporting shopping and customer acquisition activities for additional property and casualty insurance products, including home and renters coverage.