EverQuote (NASDAQ:EVER) Shares Down 5.5% – Here’s What Happened

Shares of EverQuote, Inc. (NASDAQ:EVER) fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $26.76 and last traded at $26.51. 110,299 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 502,640 shares. The stock had previously closed at $28.05.

Wall Street Analyst Weigh In

EVER has been the topic of a number of recent research reports. Canaccord Genuity Group lowered their price objective on EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC raised their price target on EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Raymond James raised shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Thursday, December 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of EverQuote from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EverQuote has a consensus rating of “Buy” and an average target price of $32.33.

EverQuote Price Performance

The stock has a market cap of $1.01 billion, a P/E ratio of 83.15 and a beta of 1.01. The stock has a 50-day simple moving average of $22.21 and a 200-day simple moving average of $20.52.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The company had revenue of $147.46 million for the quarter, compared to analyst estimates of $133.83 million. As a group, sell-side analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Activity at EverQuote

In related news, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the completion of the transaction, the director now owns 28,515 shares in the company, valued at $570,300. This trade represents a 6.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Brainard sold 29,248 shares of EverQuote stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $19.93, for a total transaction of $582,912.64. Following the sale, the chief technology officer now owns 116,212 shares in the company, valued at approximately $2,316,105.16. This represents a 20.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,863 shares of company stock valued at $1,204,605 in the last 90 days. 29.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverQuote

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in EverQuote by 255.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 240,482 shares of the company’s stock valued at $5,072,000 after purchasing an additional 172,785 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of EverQuote by 636.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,729 shares of the company’s stock valued at $2,209,000 after buying an additional 90,500 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of EverQuote by 10.4% in the third quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock valued at $12,554,000 after buying an additional 56,114 shares during the period. Barclays PLC raised its position in shares of EverQuote by 331.2% during the third quarter. Barclays PLC now owns 50,983 shares of the company’s stock worth $1,076,000 after acquiring an additional 39,160 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of EverQuote by 3,022.8% in the third quarter. JPMorgan Chase & Co. now owns 385,629 shares of the company’s stock worth $8,133,000 after acquiring an additional 373,280 shares during the period. Institutional investors own 91.54% of the company’s stock.

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.