EverQuote (NASDAQ:EVER) Shares Down 4.2% – Here’s Why

EverQuote, Inc. (NASDAQ:EVER) shares were down 4.2% on Tuesday . The company traded as low as $20.06 and last traded at $20.02. Approximately 51,842 shares were traded during trading, a decline of 88% from the average daily volume of 438,877 shares. The stock had previously closed at $20.89.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. B. Riley dropped their price target on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Raymond James raised EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Thursday, December 26th. Finally, JPMorgan Chase & Co. decreased their price target on EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.67.

EverQuote Stock Performance

The stock has a fifty day simple moving average of $18.73 and a two-hundred day simple moving average of $20.56. The stock has a market capitalization of $729.62 million, a price-to-earnings ratio of 60.71 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $144.53 million for the quarter, compared to analyst estimates of $140.30 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The company’s revenue was up 162.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.40) earnings per share. Research analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Insider Activity

In other EverQuote news, CTO David Brainard sold 29,248 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $19.93, for a total transaction of $582,912.64. Following the completion of the sale, the chief technology officer now owns 116,212 shares in the company, valued at approximately $2,316,105.16. The trade was a 20.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 52,668 shares of company stock worth $1,005,134. Company insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EVER. Gladius Capital Management LP acquired a new stake in shares of EverQuote in the 3rd quarter worth about $26,000. Quarry LP raised its stake in shares of EverQuote by 215.5% in the second quarter. Quarry LP now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 985 shares during the last quarter. R Squared Ltd bought a new position in shares of EverQuote in the fourth quarter valued at approximately $34,000. nVerses Capital LLC lifted its holdings in shares of EverQuote by 41.2% in the third quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $51,000 after purchasing an additional 700 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in EverQuote by 115.1% during the third quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock worth $74,000 after buying an additional 1,874 shares in the last quarter. 91.54% of the stock is currently 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.