EverQuote (NASDAQ:EVER) Stock Price Down 5.5% Following Insider Selling

EverQuote, Inc. (NASDAQ:EVER)’s share price dropped 5.5% during trading on Friday following insider selling activity. The company traded as low as $19.60 and last traded at $19.60. 205,097 shares were traded during trading, a decline of 76% from the average daily volume of 840,047 shares. The stock had previously closed at $20.74.

Specifically, CTO David Brainard sold 2,626 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $19.90, for a total transaction of $52,257.40. Following the sale, the chief technology officer directly owned 150,178 shares of the company’s stock, valued at $2,988,542.20. The trade was a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Brainard sold 2,334 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $19.48, for a total transaction of $45,466.32. Following the sale, the chief technology officer owned 152,804 shares of the company’s stock, valued at approximately $2,976,621.92. This represents a 1.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other EverQuote news, CEO Jayme Mendal sold 20,980 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $19.69, for a total value of $413,096.20. Following the transaction, the chief executive officer owned 557,828 shares in the company, valued at $10,983,633.32. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EVER. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of EverQuote in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of EverQuote from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. JPMorgan Chase & Co. started coverage on EverQuote in a report on Monday, August 24th. They set an “overweight” rating and a $29.00 price objective on the stock. Needham & Company LLC lifted their target price on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised EverQuote from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, EverQuote presently has a consensus rating of “Moderate Buy” and an average target price of $28.17.

EverQuote Stock Performance

The firm has a market capitalization of $706.19 million, a P/E ratio of 6.36 and a beta of 0.68. The company has a 50-day moving average price of $23.22 and a 200-day moving average price of $21.10.

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

Institutional Investors Weigh In On EverQuote

Several institutional investors have recently added to or reduced their stakes in the stock. Signature Equity Partners LLC boosted its position in shares of EverQuote by 65.5% during the first quarter. Signature Equity Partners LLC now owns 2,127 shares of the company’s stock worth $33,000 after buying an additional 842 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in EverQuote in the 2nd quarter valued at about $55,000. Allworth Financial LP increased its holdings in shares of EverQuote by 63.7% during the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $61,000 after acquiring an additional 997 shares during the last quarter. IFP Advisors Inc raised its position in shares of EverQuote by 100.1% in the second quarter. IFP Advisors Inc now owns 3,219 shares of the company’s stock valued at $77,000 after purchasing an additional 1,610 shares during the period. Finally, Sigma Planning Corp lifted its position in EverQuote by 11.9% during the first quarter. Sigma Planning Corp now owns 10,560 shares of the company’s stock worth $163,000 after acquiring an additional 1,125 shares during the last quarter. 91.54% of the stock is owned by institutional investors.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace that helps consumers compare insurance options and connect with insurance providers. Its platform uses data, digital marketing and technology to match consumers seeking coverage with insurers and other insurance-related providers.

The company has primarily focused on auto insurance, while also supporting shopping and customer acquisition activities for additional property and casualty insurance products, including home and renters coverage.