EverQuote (NASDAQ:EVER) Stock Price Down 8.4%

EverQuote, Inc. (NASDAQ:EVER)’s stock price dropped 8.4% during trading on Wednesday . The company traded as low as $24.52 and last traded at $24.54. Approximately 469,281 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 439,995 shares. The stock had previously closed at $26.80.

Analyst Upgrades and Downgrades

EVER has been the subject of a number of research analyst reports. Craig Hallum lifted their target price on shares of EverQuote from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. B. Riley boosted their price objective on shares of EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Needham & Company LLC boosted their price objective on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of EverQuote from $29.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $29.58.

EverQuote Trading Down 5.4 %

The business’s 50 day moving average is $22.51 and its two-hundred day moving average is $19.80. The company has a market cap of $758.74 million, a PE ratio of -15.50 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.03 by $0.14. The business had revenue of $117.14 million for the quarter, compared to analysts’ expectations of $102.81 million. EverQuote had a negative net margin of 17.37% and a negative return on equity of 31.65%. The business’s quarterly revenue was up 72.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS. As a group, equities research analysts predict that EverQuote, Inc. will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, Director David B. Blundin sold 5,384 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $23.16, for a total value of $124,693.44. Following the sale, the director now owns 1,519,511 shares in the company, valued at approximately $35,191,874.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jayme Mendal sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.71, for a total transaction of $414,200.00. Following the sale, the chief executive officer now directly owns 424,305 shares in the company, valued at approximately $8,787,356.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Blundin sold 5,384 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $23.16, for a total transaction of $124,693.44. Following the sale, the director now owns 1,519,511 shares in the company, valued at $35,191,874.76. The disclosure for this sale can be found here. Insiders have sold a total of 148,175 shares of company stock worth $3,700,019 in the last 90 days. 29.79% of the stock is currently owned by corporate insiders.

Institutional Trading of EverQuote

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of EverQuote by 127.6% during the 1st 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 in the last quarter. Russell Investments Group Ltd. raised its position in shares of EverQuote by 244,503.3% during the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock valued at $5,448,000 after buying an additional 293,404 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of EverQuote during the 1st quarter valued at about $2,167,000. New York State Common Retirement Fund grew its holdings in EverQuote by 25.6% during the 4th quarter. New York State Common Retirement Fund now owns 53,026 shares of the company’s stock valued at $649,000 after purchasing an additional 10,813 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in EverQuote during the 4th quarter valued at about $66,000. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

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.