EverQuote (NASDAQ:EVER) Shares Down 5.8% – Here’s Why

EverQuote, Inc. (NASDAQ:EVER) dropped 5.8% during trading on Friday . The company traded as low as $16.93 and last traded at $16.93. Approximately 394,267 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 458,383 shares. The stock had previously closed at $17.98.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Needham & Company LLC upped their target price on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Craig Hallum increased their price target on shares of EverQuote from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $29.58.

EverQuote Stock Down 5.8 %

The stock has a fifty day simple moving average of $20.88 and a 200-day simple moving average of $21.78. The company has a market capitalization of $593.90 million, a P/E ratio of -20.07 and a beta of 1.04.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.14. The firm had revenue of $117.14 million during the quarter, compared to the consensus estimate of $102.81 million. EverQuote had a negative net margin of 8.55% and a negative return on equity of 13.24%. The firm’s quarterly revenue was up 72.3% on a year-over-year basis. During the same period last year, the firm posted ($0.31) EPS. Analysts predict that EverQuote, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverQuote news, major shareholder Ventures Lllp Link sold 7,680 shares of EverQuote stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $27.08, for a total value of $207,974.40. Following the completion of the transaction, the insider now owns 3,510,721 shares in the company, valued at approximately $95,070,324.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other EverQuote news, Director David B. Blundin sold 65,718 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $27.08, for a total transaction of $1,779,643.44. Following the transaction, the director now owns 192,305 shares of the company’s stock, valued at approximately $5,207,619.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures Lllp Link sold 7,680 shares of EverQuote stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $27.08, for a total value of $207,974.40. Following the completion of the sale, the insider now directly owns 3,510,721 shares of the company’s stock, valued at $95,070,324.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,668 shares of company stock worth $2,418,629 in the last three months. Insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in EverQuote by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock valued at $21,487,000 after purchasing an additional 30,577 shares during the period. BNP Paribas Financial Markets lifted its holdings in EverQuote by 127.6% in the first quarter. BNP Paribas Financial Markets now owns 54,755 shares of the company’s stock valued at $1,016,000 after buying an additional 30,699 shares during the period. Russell Investments Group Ltd. boosted its stake in EverQuote by 244,503.3% in the first quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock valued at $5,448,000 after acquiring an additional 293,404 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in EverQuote during the 1st quarter worth $2,167,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in EverQuote during the 2nd quarter worth $782,000. Institutional investors own 91.54% of the company’s stock.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace for insurance shopping in the United States. The company offers auto, home and renters, and life insurance. The company serves carriers and agents, as well as indirect distributors. The company was formerly known as AdHarmonics, Inc, and changed its name to EverQuote, Inc in November 2014.