EverQuote (NASDAQ:EVER) Hits New 52-Week Low – Should You Sell?

EverQuote, Inc. (NASDAQ:EVER) shares reached a new 52-week low on Monday . The company traded as low as $17.19 and last traded at $17.5680, with a volume of 71625 shares changing hands. The stock had previously closed at $18.09.

Analyst Upgrades and Downgrades

EVER has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC lifted their price target on EverQuote from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen cut EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, EverQuote has a consensus rating of “Buy” and an average price target of $34.00.

EverQuote Stock Performance

The company’s 50 day moving average price is $24.84 and its 200-day moving average price is $23.92. The company has a market cap of $591.90 million, a PE ratio of 11.51 and a beta of 0.50.

Insider Transactions at EverQuote

In other EverQuote news, CTO David Brainard sold 5,709 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the sale, the chief technology officer owned 101,603 shares of the company’s stock, valued at $2,545,155.15. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayme Mendal sold 14,360 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $27.25, for a total value of $391,310.00. Following the completion of the transaction, the chief executive officer directly owned 438,052 shares of the company’s stock, valued at $11,936,917. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,507 shares of company stock worth $1,494,612 over the last 90 days. 25.52% of the stock is owned by insiders.

Institutional Investors Weigh In On EverQuote

Several hedge funds and other institutional investors have recently modified their holdings of EVER. Comerica Bank grew its stake in EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares in the last quarter. Versant Capital Management Inc boosted its holdings in EverQuote by 108.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after purchasing an additional 601 shares during the period. NewEdge Advisors LLC purchased a new position in shares of EverQuote during the 3rd quarter valued at $52,000. Clearstead Advisors LLC increased its holdings in shares of EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after purchasing an additional 826 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of EverQuote by 595.8% in the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock worth $62,000 after purchasing an additional 2,246 shares during the period. 91.54% of the stock is currently owned by institutional investors.

EverQuote Company Profile

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.