EverQuote (NASDAQ:EVER) Stock Breaks Above 50 Day Moving Average – Time to Sell?

EverQuote, Inc. (NASDAQ:EVER) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $22.37 and traded as high as $23.17. EverQuote shares last traded at $22.80, with a volume of 823,915 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James Financial restated an “outperform” rating and set a $28.00 price objective on shares of EverQuote in a report on Thursday, August 13th. Weiss Ratings upgraded EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 26th. Needham & Company LLC increased 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. Zacks Research upgraded EverQuote from a “strong sell” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, JPMorgan Chase & Co. initiated coverage on EverQuote in a research note on Monday, August 24th. They issued an “overweight” rating and a $29.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

EverQuote Trading Up 6.1%

The firm has a market capitalization of $821.48 million, a price-to-earnings ratio of 7.40 and a beta of 0.68. The firm has a 50 day moving average price of $22.37 and a two-hundred day moving average price of $20.55.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data 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. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The company had revenue of $195.09 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the previous year, the firm earned $0.39 earnings per share. EverQuote’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, research analysts forecast that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John Shields sold 1,366 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $20.83, for a total transaction of $28,453.78. Following the sale, the director directly owned 29,832 shares in the company, valued at approximately $621,400.56. This trade represents a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George Neble sold 1,593 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $20.83, for a total value of $33,182.19. Following the transaction, the director directly owned 56,547 shares in the company, valued at $1,177,874.01. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,681 shares of company stock valued at $1,730,822. Company insiders own 23.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVER. Jacobs Asset Management LLC boosted its stake in shares of EverQuote by 199.9% in the first quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company’s stock valued at $6,219,000 after purchasing an additional 268,819 shares during the period. Dimensional Fund Advisors LP grew its holdings in EverQuote by 37.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company’s stock valued at $10,728,000 after purchasing an additional 190,438 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in EverQuote during the 2nd quarter valued at $2,344,000. Squarepoint Ops LLC purchased a new stake in EverQuote during the 2nd quarter worth $2,889,000. Finally, Principal Financial Group Inc. increased its stake in EverQuote by 219.1% during the 1st quarter. Principal Financial Group Inc. now owns 137,574 shares of the company’s stock worth $2,121,000 after buying an additional 94,467 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.

About EverQuote

EverQuote, Inc operates an online marketplace that connects consumers seeking insurance with insurance providers and distribution partners. The company uses technology, data, and digital marketing to help consumers compare insurance options and obtain quotes.

Its platform has primarily focused on auto insurance, while also supporting other insurance categories, including home and renters insurance. EverQuote generates business by providing insurance carriers and agents with consumer referrals and opportunities to reach people who are actively shopping for coverage.

Founded in 2010 and headquartered in Cambridge, Massachusetts, EverQuote serves the United States insurance market.