EverQuote (NASDAQ:EVER) Stock Price Down 6.3% – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER)’s stock price dropped 6.3% during trading on Tuesday . The stock traded as low as $18.23 and last traded at $18.24. Approximately 259,590 shares traded hands during trading, a decline of 45% from the average daily volume of 472,421 shares. The stock had previously closed at $19.46.

Analyst Ratings Changes

EVER has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. B. Riley decreased their price target on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, EverQuote presently has an average rating of “Buy” and an average target price of $28.50.

EverQuote Trading Down 0.5 %

The firm’s fifty day moving average price is $19.21 and its 200-day moving average price is $21.41. The company has a market cap of $653.98 million, a P/E ratio of 54.41 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last posted its earnings results on Monday, November 4th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $144.53 million for the quarter, compared to analysts’ expectations of $140.30 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The firm’s revenue for the quarter was up 162.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. As a group, research analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director George R. Neble sold 2,500 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 54,970 shares of the company’s stock, valued at $1,067,517.40. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO David Brainard sold 1,641 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $20.22, for a total transaction of $33,181.02. Following the completion of the transaction, the chief technology officer now directly owns 155,491 shares in the company, valued at approximately $3,144,028.02. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,716 shares of company stock valued at $188,810. 29.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverQuote

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC boosted its stake in EverQuote by 9.1% in the second 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. boosted its position in shares of EverQuote by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock worth $21,487,000 after purchasing an additional 30,577 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of EverQuote by 165.8% during the third quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock worth $13,498,000 after purchasing an additional 399,257 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of EverQuote by 10.4% during 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. Finally, Acadian Asset Management LLC boosted its position in shares of EverQuote by 62.6% during the second quarter. Acadian Asset Management LLC now owns 517,331 shares of the company’s stock worth $10,786,000 after purchasing an additional 199,187 shares in the last quarter. 91.54% of the stock is owned by institutional investors.

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.