EverQuote (NASDAQ:EVER) Shares Gap Up – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER) gapped up prior to trading on Tuesday . The stock had previously closed at $21.15, but opened at $22.98. EverQuote shares last traded at $22.53, with a volume of 22,743 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on EVER. Canaccord Genuity Group lowered 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. JPMorgan Chase & Co. lifted their price target on shares of EverQuote from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Needham & Company LLC raised their target price on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Raymond James upgraded EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Thursday, December 26th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $32.33.

EverQuote Trading Down 1.0 %

The stock has a 50-day simple moving average of $24.30 and a 200-day simple moving average of $20.90. The company has a market cap of $748.24 million, a price-to-earnings ratio of 61.85 and a beta of 0.77.

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

Insider Activity

In other news, major shareholder Ventures Lllp Link sold 1,022 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $28.75, for a total transaction of $29,382.50. Following the transaction, the insider now directly owns 3,498,667 shares in the company, valued at $100,586,676.25. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph Sanborn sold 1,063 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $26.29, for a total value of $27,946.27. Following the completion of the transaction, the chief financial officer now directly owns 270,865 shares in the company, valued at approximately $7,121,040.85. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,744 shares of company stock worth $4,900,194 over the last quarter. Corporate insiders own 29.79% of the company’s stock.

Institutional Investors Weigh In On EverQuote

A number of large investors have recently bought and sold shares of EVER. R Squared Ltd acquired a new stake in shares of EverQuote in the fourth quarter valued at about $34,000. Quarry LP increased its position in EverQuote by 100.7% in the 3rd quarter. Quarry LP now owns 2,894 shares of the company’s stock worth $61,000 after buying an additional 1,452 shares during the period. KLP Kapitalforvaltning AS bought a new position in EverQuote in the 4th quarter worth approximately $90,000. Asset Management One Co. Ltd. lifted its holdings in shares of EverQuote by 80.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company’s stock worth $90,000 after buying an additional 2,042 shares during the last quarter. Finally, AlphaQuest LLC grew its stake in shares of EverQuote by 53.9% in the fourth quarter. AlphaQuest LLC now owns 7,704 shares of the company’s stock worth $154,000 after acquiring an additional 2,698 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.

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.