EverQuote (NASDAQ:EVER) Stock Price Down 5.6% – Time to Sell?

EverQuote, Inc. (NASDAQ:EVER) shares dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $25.14 and last traded at $24.87. Approximately 158,722 shares changed hands during trading, a decline of 59% from the average daily volume of 383,467 shares. The stock had previously closed at $26.34.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of EverQuote in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Zacks Research raised shares of EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Needham & Company LLC boosted their target price on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, EverQuote presently has an average rating of “Buy” and an average target price of $34.00.

EverQuote Price Performance

The company’s 50-day moving average price is $26.23 and its 200-day moving average price is $24.32. The company has a market cap of $896.09 million, a P/E ratio of 17.37 and a beta of 0.46.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, November 3rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. The firm had revenue of $173.94 million during the quarter, compared to analyst estimates of $166.09 million. EverQuote had a net margin of 8.36% and a return on equity of 38.19%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. On average, equities research analysts predict that EverQuote, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jayme Mendal sold 14,360 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $23.55, for a total transaction of $338,178.00. Following the completion of the transaction, the chief executive officer directly owned 452,412 shares of the company’s stock, valued at $10,654,302.60. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David Brainard sold 5,709 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $25.05, for a total transaction of $143,010.45. Following the completion of the sale, the chief technology officer directly owned 101,603 shares in the company, valued at approximately $2,545,155.15. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,836 shares of company stock worth $1,358,539. 25.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EverQuote

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC lifted its position in EverQuote by 5.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 8,684 shares of the company’s stock worth $210,000 after buying an additional 453 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of EverQuote by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock valued at $68,000 after acquiring an additional 573 shares during the last quarter. Versant Capital Management Inc raised its holdings in EverQuote by 108.9% during the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after acquiring an additional 601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in EverQuote by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock valued at $393,000 after purchasing an additional 624 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in EverQuote by 4.3% during the second quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock valued at $392,000 after purchasing an additional 675 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

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.