Granahan Investment Management LLC Decreases Stake in EverQuote, Inc. (NASDAQ:EVER)

Granahan Investment Management LLC lessened its holdings in EverQuote, Inc. (NASDAQ:EVER) by 36.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 458,898 shares of the company’s stock after selling 259,509 shares during the quarter. Granahan Investment Management LLC’s holdings in EverQuote were worth $9,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Divisadero Street Capital Management LP bought a new stake in EverQuote during the fourth quarter worth $12,311,000. Freestone Grove Partners LP purchased a new stake in shares of EverQuote during the 4th quarter valued at $11,618,000. JPMorgan Chase & Co. raised its stake in shares of EverQuote by 3,022.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 385,629 shares of the company’s stock worth $8,133,000 after purchasing an additional 373,280 shares during the period. Toronado Partners LLC boosted its holdings in shares of EverQuote by 59.7% in the 4th quarter. Toronado Partners LLC now owns 718,774 shares of the company’s stock worth $14,368,000 after buying an additional 268,670 shares during the last quarter. Finally, Boston Partners bought a new position in EverQuote during the fourth quarter valued at about $3,668,000. 91.54% of the stock is owned by institutional investors.

EverQuote Stock Up 0.4 %

EVER opened at $23.23 on Friday. The firm has a 50-day moving average price of $24.48 and a 200-day moving average price of $21.33. EverQuote, Inc. has a twelve month low of $16.63 and a twelve month high of $30.03. The company has a market capitalization of $829.87 million, a price-to-earnings ratio of 68.32 and a beta of 0.45.

EverQuote (NASDAQ:EVER) last released its quarterly earnings data on Monday, February 24th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The business had revenue of $147.46 million during the quarter, compared to analyst estimates of $133.83 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. On average, sell-side analysts expect that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other EverQuote news, CTO David Brainard sold 6,609 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $21.49, for a total value of $142,027.41. Following the completion of the transaction, the chief technology officer now owns 156,783 shares in the company, valued at $3,369,266.67. This trade represents a 4.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ventures Lllp Link sold 1,022 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $28.75, for a total value of $29,382.50. Following the sale, the insider now owns 3,498,667 shares in the company, valued at approximately $100,586,676.25. This represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,967 shares of company stock worth $5,278,231. 29.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EVER has been the topic of several research reports. Canaccord Genuity Group lowered their price objective on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on shares of EverQuote from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of EverQuote in a research note on Tuesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $32.50.

EverQuote Profile

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.