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

EverQuote, Inc. (NASDAQ:EVER)’s share price dropped 4.5% during trading on Wednesday . The stock traded as low as $18.79 and last traded at $18.79. Approximately 137,175 shares were traded during 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

A number of equities analysts have issued reports on EVER shares. Needham & Company LLC upped their target price on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. B. Riley cut their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum upped their target price on EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $28.50.

EverQuote Stock Performance

The firm has a market capitalization of $677.31 million, a P/E ratio of 57.85 and a beta of 1.06. The stock has a fifty day moving average price of $19.54 and a two-hundred day moving average price of $21.59.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 162.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) EPS. As a group, research analysts anticipate that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO David Brainard sold 1,641 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.22, for a total value of $33,181.02. Following the completion of the transaction, the chief technology officer now owns 155,491 shares of the company’s stock, valued at approximately $3,144,028.02. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George R. Neble sold 2,500 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $1,067,517.40. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,716 shares of company stock worth $188,810 in the last three months. 29.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gladius Capital Management LP acquired a new stake in shares of EverQuote in the third quarter valued at $26,000. Quarry LP lifted its holdings in shares of EverQuote by 215.5% in the second quarter. Quarry LP now owns 1,442 shares of the company’s stock valued at $30,000 after buying an additional 985 shares during the period. nVerses Capital LLC acquired a new stake in shares of EverQuote in the second quarter valued at $35,000. CWM LLC lifted its holdings in shares of EverQuote by 133.2% in the second quarter. CWM LLC now owns 1,861 shares of the company’s stock valued at $39,000 after buying an additional 1,063 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of EverQuote by 115.1% in the third quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock valued at $74,000 after buying an additional 1,874 shares during the period. 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.