EverQuote (NASDAQ:EVER) Trading Down 5.7% – Here’s Why

EverQuote, Inc. (NASDAQ:EVER) fell 5.7% during mid-day trading on Tuesday . The company traded as low as $21.92 and last traded at $21.5270. Approximately 59,175 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 815,871 shares. The stock had previously closed at $22.83.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EVER. Wall Street Zen downgraded shares of EverQuote from a “buy” rating to a “hold” rating in a research report on Sunday. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 target price on shares of EverQuote in a research report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of EverQuote in a research note on Monday, August 24th. They set an “overweight” rating and a $29.00 target price for the company. Zacks Research cut shares of EverQuote from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Needham & Company LLC upped their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.17.

EverQuote Price Performance

The business has a fifty day moving average of $24.98 and a 200 day moving average of $20.82. The stock has a market cap of $682.88 million, a price-to-earnings ratio of 6.15 and a beta of 0.67.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The firm had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, analysts expect that EverQuote, Inc. will post 1.72 EPS for the current year.

Insider Buying and Selling at EverQuote

In related news, CAO Jon Ayotte sold 4,611 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total value of $111,355.65. Following the completion of the sale, the chief accounting officer directly owned 74,580 shares in the company, valued at approximately $1,801,107. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Sanborn sold 6,667 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.51, for a total transaction of $170,075.17. Following the transaction, the chief financial officer directly owned 305,241 shares in the company, valued at $7,786,697.91. The trade was a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 63,024 shares of company stock worth $1,567,321 in the last ninety days. Company insiders own 23.68% of the company’s stock.

Institutional Trading of EverQuote

Large investors have recently made changes to their positions in the stock. Signature Equity Partners LLC increased its holdings in shares of EverQuote by 65.5% during the 1st quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock valued at $33,000 after acquiring an additional 842 shares during the last quarter. Clearstead Advisors LLC boosted its position in EverQuote by 70.5% during 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. Integrated Wealth Concepts LLC bought a new stake in EverQuote during the second quarter worth approximately $55,000. Allworth Financial LP grew its holdings in EverQuote by 63.7% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $61,000 after purchasing an additional 997 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in EverQuote by 100.1% during the second quarter. IFP Advisors Inc now owns 3,219 shares of the company’s stock valued at $77,000 after purchasing an additional 1,610 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

About EverQuote

EverQuote, Inc (NASDAQ: EVER) operates an online insurance marketplace that connects consumers with insurance providers and agents. The company uses data, technology and digital marketing to help shoppers compare insurance options and connect with providers that may be able to meet their coverage needs.

EverQuote’s marketplace has primarily focused on auto insurance and has also supported shopping for home, renters, life, health and commercial insurance products. Its platform provides insurance companies and agencies with consumer leads and customer-acquisition solutions designed to help them reach prospective policyholders.

Founded in 2011 and headquartered in Cambridge, Massachusetts, EverQuote serves consumers and insurance providers in the United States.