Clearline Capital LP Sells 326,186 Shares of EverQuote, Inc. (NASDAQ:EVER)

Clearline Capital LP lessened its stake in EverQuote, Inc. (NASDAQ:EVER) by 78.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,718 shares of the company’s stock after selling 326,186 shares during the period. Clearline Capital LP owned about 0.26% of EverQuote worth $1,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EVER. Driehaus Capital Management LLC boosted its holdings in EverQuote by 9.1% in the second quarter. Driehaus Capital Management LLC now owns 2,036,361 shares of the company’s stock valued at $42,478,000 after acquiring an additional 169,333 shares during the last quarter. Vanguard Group Inc. increased its position in shares of EverQuote by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock worth $21,487,000 after buying an additional 30,577 shares during the period. Emerald Advisers LLC raised its stake in EverQuote by 165.8% during the third quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock worth $13,498,000 after buying an additional 399,257 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in EverQuote by 62.6% in the second quarter. Acadian Asset Management LLC now owns 517,331 shares of the company’s stock valued at $10,786,000 after buying an additional 199,187 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in EverQuote by 572.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 504,081 shares of the company’s stock worth $10,631,000 after acquiring an additional 429,084 shares during the period. Institutional investors and hedge funds own 91.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum lifted their price objective on shares of EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. B. Riley cut their target price on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Needham & Company LLC raised their price objective on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $28.50.

EverQuote Stock Performance

Shares of EVER stock opened at $19.19 on Monday. EverQuote, Inc. has a 52-week low of $9.86 and a 52-week high of $28.09. The company has a 50-day simple moving average of $19.35 and a two-hundred day simple moving average of $21.50. The company has a market capitalization of $678.39 million, a price-to-earnings ratio of 56.44 and a beta of 1.06.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $144.53 million for the quarter, compared to the consensus estimate of $140.30 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The firm’s quarterly revenue was up 162.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. On average, sell-side analysts forecast that EverQuote, Inc. will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at EverQuote

In other news, Director George R. Neble sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $19.42, for a total value of $48,550.00. Following the completion of the transaction, the director now directly owns 54,970 shares in the company, valued at approximately $1,067,517.40. This trade represents a 4.35 % 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, CTO David Brainard sold 1,641 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $20.22, for a total transaction of $33,181.02. Following the sale, the chief technology officer now directly owns 155,491 shares in the company, valued at $3,144,028.02. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,716 shares of company stock valued at $188,810 in the last 90 days. 29.79% of the stock is currently owned by company insiders.

About EverQuote

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.