EverQuote (NASDAQ:EVER) Stock Price Down 3.5% – Time to Sell?

EverQuote, Inc. (NASDAQ:EVER)’s share price fell 3.5% during mid-day trading on Tuesday . The company traded as low as $26.21 and last traded at $25.6950. Approximately 74,330 shares were traded during mid-day trading, a decline of 91% from the average session volume of 842,200 shares. The stock had previously closed at $26.62.

Analyst Upgrades and Downgrades

EVER has been the topic of several research reports. Needham & Company LLC boosted their target price on EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $28.00 price target on shares of EverQuote in a research note on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of EverQuote in a research note on Monday. They issued an “overweight” rating and a $29.00 price target on the stock. Zacks Research downgraded EverQuote from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Finally, B. Riley Financial reiterated a “buy” rating and set a $34.00 target price (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.17.

EverQuote Stock Down 2.9%

The business’s 50 day simple moving average is $24.64 and its 200 day simple moving average is $19.71. The stock has a market cap of $939.66 million, a price-to-earnings ratio of 8.47 and a beta of 0.62.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. EverQuote had a return on equity of 50.29% and a net margin of 15.16%.The firm had revenue of $195.09 million for the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts forecast that EverQuote, Inc. will post 1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, Director George R. Neble sold 2,456 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.64, for a total transaction of $60,515.84. Following the completion of the sale, the director owned 58,140 shares of the company’s stock, valued at $1,432,569.60. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David Brainard sold 4,960 shares of EverQuote stock in a transaction on Monday, July 6th. The stock was sold at an average price of $25.51, for a total transaction of $126,529.60. Following the transaction, the chief technology officer directly owned 165,336 shares of the company’s stock, valued at approximately $4,217,721.36. This trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,439 shares of company stock worth $816,704 in the last quarter. Insiders own 23.68% of the company’s stock.

Institutional Investors Weigh In On EverQuote

Hedge funds have recently bought and sold shares of the stock. Jacobs Asset Management LLC boosted its holdings in EverQuote by 199.9% in the 1st quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company’s stock valued at $6,219,000 after purchasing an additional 268,819 shares during the period. Dimensional Fund Advisors LP raised its position in shares of EverQuote by 37.7% in the first quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company’s stock valued at $10,728,000 after buying an additional 190,438 shares in the last quarter. Legato Capital Management LLC raised its position in shares of EverQuote by 179.9% in the fourth quarter. Legato Capital Management LLC now owns 86,717 shares of the company’s stock valued at $2,341,000 after buying an additional 55,741 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of EverQuote by 219.1% in the first quarter. Principal Financial Group Inc. now owns 137,574 shares of the company’s stock valued at $2,121,000 after buying an additional 94,467 shares during the period. Finally, OP Asset Management Ltd bought a new stake in shares of EverQuote in the first quarter valued at approximately $2,410,000. 91.54% of the stock is currently owned by institutional investors and hedge funds.

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.