EverQuote (NASDAQ:EVER) Shares Down 8.4%

EverQuote, Inc. (NASDAQ:EVER) fell 8.4% during trading on Wednesday . The stock traded as low as $24.52 and last traded at $24.54. 469,281 shares were traded during trading, an increase of 7% from the average session volume of 439,995 shares. The stock had previously closed at $26.80.

Analyst Ratings Changes

EVER has been the subject of a number of research reports. Craig Hallum raised their price objective on EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley lifted their price target on EverQuote from $24.00 to $29.50 and gave the stock a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price target on EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday. Needham & Company LLC lifted their price target on EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity Group lifted their price target on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, EverQuote currently has an average rating of “Buy” and a consensus price target of $29.58.

EverQuote Stock Performance

The company has a market capitalization of $843.82 million, a P/E ratio of -17.77 and a beta of 0.96. The business has a 50 day moving average of $22.53 and a 200-day moving average of $19.75.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The company had revenue of $117.14 million for the quarter, compared to analyst estimates of $102.81 million. EverQuote had a negative return on equity of 31.65% and a negative net margin of 17.37%. The firm’s revenue for the quarter was up 72.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. As a group, equities analysts forecast that EverQuote, Inc. will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CEO Jayme Mendal sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.71, for a total value of $414,200.00. Following the transaction, the chief executive officer now directly owns 424,305 shares in the company, valued at approximately $8,787,356.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Julia Brncic sold 2,622 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $21.16, for a total transaction of $55,481.52. Following the completion of the sale, the general counsel now directly owns 118,963 shares in the company, valued at approximately $2,517,257.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayme Mendal sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.71, for a total value of $414,200.00. Following the sale, the chief executive officer now owns 424,305 shares of the company’s stock, valued at $8,787,356.55. The disclosure for this sale can be found here. Insiders have sold 74,777 shares of company stock worth $1,712,401 in the last ninety days. 29.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EverQuote

Several institutional investors and hedge funds have recently bought and sold shares of EVER. Russell Investments Group Ltd. lifted its holdings in EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock worth $5,448,000 after buying an additional 293,404 shares during the period. Emerald Advisers LLC purchased a new stake in EverQuote in the 2nd quarter worth approximately $5,023,000. Acadian Asset Management LLC lifted its holdings in EverQuote by 206.9% in the 1st quarter. Acadian Asset Management LLC now owns 318,144 shares of the company’s stock worth $5,903,000 after buying an additional 214,486 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of EverQuote in the 2nd quarter worth approximately $3,796,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of EverQuote in the 1st quarter worth approximately $2,167,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

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.