EverQuote (NASDAQ:EVER) Stock Price Down 9.2%

Shares of EverQuote, Inc. (NASDAQ:EVER) traded down 9.2% during trading on Tuesday . The stock traded as low as $22.31 and last traded at $22.42. 324,331 shares were traded during trading, a decline of 30% from the average session volume of 462,596 shares. The stock had previously closed at $24.70.

Analyst Ratings Changes

EVER has been the topic of a number of analyst reports. Craig Hallum increased their price objective on shares of EverQuote from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Canaccord Genuity Group boosted their price objective on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. B. Riley raised their target price on EverQuote from $24.00 to $29.50 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target on EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Finally, Needham & Company LLC lifted their price objective on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $29.58.

EverQuote Price Performance

The stock has a market capitalization of $773.67 million, a price-to-earnings ratio of -16.20 and a beta of 0.96. The business has a fifty day moving average of $23.09 and a 200-day moving average of $20.95.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.03 by $0.14. The business had revenue of $117.14 million during the quarter, compared to analyst estimates of $102.81 million. EverQuote had a negative net margin of 8.55% and a negative return on equity of 13.24%. The business’s quarterly revenue was up 72.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) earnings per share. As a group, research analysts anticipate that EverQuote, Inc. will post 0.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jayme Mendal sold 20,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.71, for a total value of $414,200.00. Following the completion of the transaction, the chief executive officer now owns 424,305 shares in the company, valued at approximately $8,787,356.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jayme Mendal sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.71, for a total value of $414,200.00. Following the completion of the sale, the chief executive officer now directly owns 424,305 shares of the company’s stock, valued at $8,787,356.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ventures Lllp Link sold 7,680 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $27.08, for a total transaction of $207,974.40. Following the sale, the insider now owns 3,510,721 shares of the company’s stock, valued at $95,070,324.68. The disclosure for this sale can be found here. Insiders have sold 149,692 shares of company stock worth $3,700,921 in the last three months. 29.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EVER. Quarry LP lifted its position in shares of EverQuote by 215.5% in the second quarter. Quarry LP now owns 1,442 shares of the company’s stock worth $30,000 after buying an additional 985 shares during the last quarter. nVerses Capital LLC acquired a new stake in EverQuote in the 2nd quarter worth approximately $35,000. CWM LLC boosted its position in EverQuote by 133.2% during the second quarter. CWM LLC now owns 1,861 shares of the company’s stock worth $39,000 after purchasing an additional 1,063 shares during the period. Meeder Asset Management Inc. acquired a new position in EverQuote during the second quarter valued at approximately $76,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of EverQuote in the second quarter valued at approximately $147,000. 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.