EverQuote (NASDAQ:EVER) Shares Down 4.2% – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER)’s stock price dropped 4.2% during trading on Tuesday . The stock traded as low as $20.06 and last traded at $20.02. Approximately 51,842 shares traded hands during trading, a decline of 88% from the average daily volume of 438,877 shares. The stock had previously closed at $20.89.

Wall Street Analyst Weigh In

EVER has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Raymond James upgraded EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Thursday, December 26th. Finally, B. Riley dropped their price objective on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.67.

EverQuote Price Performance

The stock has a 50-day moving average price of $18.73 and a 200-day moving average price of $20.56. The company has a market capitalization of $729.62 million, a price-to-earnings ratio of 60.71 and a beta of 0.96.

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

Insider Activity at EverQuote

In other news, CTO David Brainard sold 29,248 shares of EverQuote stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $19.93, for a total value of $582,912.64. Following the completion of the sale, the chief technology officer now directly owns 116,212 shares in the company, valued at approximately $2,316,105.16. The trade was a 20.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 52,668 shares of company stock worth $1,005,134 in the last ninety days. 29.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverQuote

Several institutional investors and hedge funds have recently bought and sold shares of EVER. Emerald Advisers LLC raised its position in shares of EverQuote by 165.8% in the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after buying an additional 399,257 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of EverQuote by 10.4% during the 3rd quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock valued at $12,554,000 after purchasing an additional 56,114 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position 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 purchasing an additional 429,084 shares in the last quarter. Marshall Wace LLP lifted its stake in EverQuote by 18.2% in the 2nd quarter. Marshall Wace LLP now owns 464,826 shares of the company’s stock valued at $9,696,000 after purchasing an additional 71,491 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in EverQuote by 3,022.8% in the third quarter. JPMorgan Chase & Co. now owns 385,629 shares of the company’s stock valued at $8,133,000 after buying an additional 373,280 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.

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.