EverQuote (NASDAQ:EVER) Shares Down 10.5% – What’s Next?

EverQuote, Inc. (NASDAQ:EVER) shares traded down 10.5% during trading on Wednesday . The company traded as low as $14.88 and last traded at $14.7340. 421,131 shares changed hands during trading, a decline of 42% from the average session volume of 728,065 shares. The stock had previously closed at $16.46.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EVER shares. Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research note on Thursday, January 22nd. Needham & Company LLC increased their price target on shares of EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, Wall Street Zen cut shares of EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $34.00.

EverQuote Trading Down 9.1%

The stock has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $23.92. The firm has a market cap of $537.96 million, a PE ratio of 10.46 and a beta of 0.50.

Insider Activity

In related news, CAO Jon Ayotte sold 3,639 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $26.76, for a total value of $97,379.64. Following the sale, the chief accounting officer owned 49,233 shares in the company, valued at approximately $1,317,475.08. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jayme Mendal sold 14,360 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $24.15, for a total value of $346,794.00. Following the transaction, the chief executive officer owned 406,404 shares of the company’s stock, valued at approximately $9,814,656.60. The trade was a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 59,507 shares of company stock valued at $1,494,612. 25.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverQuote

A number of institutional investors and hedge funds have recently bought and sold shares of EVER. Royal Bank of Canada raised its position in shares of EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after buying an additional 61,805 shares in the last quarter. Amundi purchased a new stake in EverQuote during the first quarter valued at about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in EverQuote by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after purchasing an additional 624 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of EverQuote by 615.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock worth $8,896,000 after purchasing an additional 292,172 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of EverQuote by 215.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company’s stock valued at $343,000 after buying an additional 9,700 shares in the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

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.