EverQuote (NASDAQ:EVER) Trading Down 4.5% – Here’s Why

EverQuote, Inc. (NASDAQ:EVER)’s share price was down 4.5% on Wednesday . The stock traded as low as $18.79 and last traded at $18.79. Approximately 137,175 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 473,812 shares. The stock had previously closed at $19.67.

Analyst Ratings Changes

Several analysts have recently weighed in on EVER shares. Craig Hallum upped their price objective on EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. B. Riley reduced their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Needham & Company LLC upped their target price on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their target price on EverQuote from $34.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $28.50.

EverQuote Stock Performance

The firm has a 50 day moving average of $19.54 and a 200-day moving average of $21.59. The stock has a market capitalization of $677.31 million, a PE ratio of 57.85 and a beta of 1.06.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $144.53 million during the quarter, compared to the consensus estimate of $140.30 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The business’s revenue for the quarter was up 162.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) EPS. On average, sell-side analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other EverQuote news, CTO David Brainard sold 1,641 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $20.22, for a total value of $33,181.02. Following the transaction, the chief technology officer now directly owns 155,491 shares of the company’s stock, valued at $3,144,028.02. This represents a 1.04 % decrease in their position. The sale 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 dated Thursday, October 10th. The stock was sold at an average price of $19.42, for a total value of $48,550.00. Following the completion of the transaction, the director now directly owns 54,970 shares in the company, valued at approximately $1,067,517.40. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,716 shares of company stock valued at $188,810. Corporate insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC increased its holdings in shares of EverQuote by 9.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,036,361 shares of the company’s stock valued at $42,478,000 after acquiring an additional 169,333 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of EverQuote by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock valued at $21,487,000 after acquiring an additional 30,577 shares during the last quarter. Emerald Advisers LLC increased its holdings in shares of EverQuote by 165.8% during the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after acquiring an additional 399,257 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of EverQuote by 10.4% during the 3rd quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock valued at $12,554,000 after acquiring an additional 56,114 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of EverQuote by 62.6% during the 2nd quarter. Acadian Asset Management LLC now owns 517,331 shares of the company’s stock valued at $10,786,000 after acquiring an additional 199,187 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

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.