EverQuote (NASDAQ:EVER) Shares Gap Up – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER) gapped up prior to trading on Thursday . The stock had previously closed at $18.32, but opened at $19.36. EverQuote shares last traded at $19.80, with a volume of 98,542 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on EVER. B. Riley cut their target price on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Raymond James raised EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Thursday. Five research 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 a consensus target price of $32.17.

EverQuote Stock Up 8.2 %

The firm has a market cap of $700.66 million, a PE ratio of 58.29 and a beta of 0.96. The firm’s 50 day moving average is $18.50 and its 200-day moving average is $20.80.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned ($0.40) earnings per share. The business’s revenue for the quarter was up 162.7% on a year-over-year basis. On average, analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling at EverQuote

In other news, CTO David Brainard sold 14,590 shares of EverQuote stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.44, for a total transaction of $254,449.60. Following the sale, the chief technology officer now owns 137,291 shares in the company, valued at $2,394,355.04. This trade represents a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George R. Neble sold 2,500 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $19.42, for a total transaction of $48,550.00. Following the completion of the transaction, the director now owns 54,970 shares of the company’s stock, valued at $1,067,517.40. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,306 shares of company stock valued at $443,260. Company insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of EverQuote by 116.6% during the third quarter. Franklin Resources Inc. now owns 58,781 shares of the company’s stock worth $1,147,000 after acquiring an additional 31,644 shares during the last quarter. Barclays PLC grew its stake in EverQuote by 331.2% in the third quarter. Barclays PLC now owns 50,983 shares of the company’s stock worth $1,076,000 after purchasing an additional 39,160 shares in the last quarter. Geode Capital Management LLC grew its stake in EverQuote by 10.4% in the third quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock worth $12,554,000 after purchasing an additional 56,114 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in EverQuote in the third quarter valued at about $757,000. Finally, MML Investors Services LLC acquired a new stake in EverQuote during the third quarter valued at approximately $290,000. Institutional investors and hedge funds 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.