EverQuote (NASDAQ:EVER) Shares Gap Down on Insider Selling

EverQuote, Inc. (NASDAQ:EVER) shares gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $26.88, but opened at $26.15. EverQuote shares last traded at $26.22, with a volume of 101,696 shares changing hands.

Specifically, CAO Jon Ayotte sold 7,647 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $25.72, for a total transaction of $196,680.84. Following the sale, the chief accounting officer now owns 58,045 shares of the company’s stock, valued at $1,492,917.40. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Brainard sold 2,238 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.14, for a total value of $58,501.32. Following the completion of the sale, the chief technology officer now owns 153,336 shares of the company’s stock, valued at $4,008,203.04. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research firms have recently commented on EVER. JPMorgan Chase & Co. boosted their price objective on EverQuote from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Raymond James upgraded shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Thursday, December 26th. Canaccord Genuity Group reduced their price objective on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 24th. B. Riley dropped their target price on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Needham & Company LLC raised their target price on shares of EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.33.

EverQuote Trading Down 5.3 %

The stock has a market cap of $899.68 million, a price-to-earnings ratio of 74.85 and a beta of 0.96. The company has a fifty day simple moving average of $20.59 and a 200-day simple moving average of $20.20.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, February 24th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.18. The business had revenue of $147.46 million for the quarter, compared to the consensus estimate of $133.83 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. As a group, analysts anticipate that EverQuote, Inc. will post 0.72 earnings per share for the current year.

Institutional Trading of EverQuote

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of EverQuote by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,383 shares of the company’s stock valued at $288,000 after buying an additional 608 shares in the last quarter. Corton Capital Inc. grew its stake in EverQuote by 3.4% during the 4th quarter. Corton Capital Inc. now owns 21,592 shares of the company’s stock valued at $432,000 after acquiring an additional 714 shares in the last quarter. Legal & General Group Plc grew its stake in EverQuote by 4.8% during the 4th quarter. Legal & General Group Plc now owns 21,985 shares of the company’s stock valued at $439,000 after acquiring an additional 1,012 shares in the last quarter. Gladius Capital Management LP acquired a new position in shares of EverQuote in the 3rd quarter valued at about $26,000. Finally, Rhumbline Advisers lifted its position in shares of EverQuote by 4.0% in the fourth quarter. Rhumbline Advisers now owns 34,899 shares of the company’s stock worth $698,000 after purchasing an additional 1,332 shares in the last quarter. 91.54% of the stock is 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.