EverQuote (NASDAQ:EVER) Trading Down 5.6% Following Insider Selling

Shares of EverQuote, Inc. (NASDAQ:EVER) were down 5.6% during mid-day trading on Wednesday following insider selling activity. 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.

Specifically, Director John L. Shields sold 2,000 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $25.73, for a total value of $51,460.00. Following the transaction, the director owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. This represents a 7.35% 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 5,709 shares of EverQuote stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the transaction, the chief technology officer directly owned 101,603 shares in the company, valued at $2,545,155.15. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EVER shares. Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Needham & Company LLC boosted their price objective on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Finally, Wall Street Zen cut EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $34.00.

EverQuote Stock Performance

The firm has a market capitalization of $890.37 million, a PE ratio of 17.31 and a beta of 0.46. The company has a fifty day moving average price of $26.23 and a 200-day moving average price of $24.33.

EverQuote (NASDAQ:EVER) last announced its earnings results 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 firm had revenue of $173.94 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s quarterly revenue was up 20.3% on a year-over-year basis. On average, equities analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in EverQuote by 235.4% during the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after purchasing an additional 772 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of EverQuote by 108.9% during the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after buying an additional 601 shares during the period. NewEdge Advisors LLC purchased a new position in shares of EverQuote during the third quarter valued at $52,000. Jones Financial Companies Lllp raised its holdings in shares of EverQuote by 595.8% in the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after acquiring an additional 2,246 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in EverQuote by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock worth $68,000 after acquiring an additional 573 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

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.