EverQuote (NASDAQ:EVER) Stock Price Down 10.5% – Here’s What Happened

EverQuote, Inc. (NASDAQ:EVER) dropped 10.5% during trading on Wednesday . The stock traded as low as $14.88 and last traded at $14.7340. Approximately 421,131 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 728,065 shares. The stock had previously closed at $16.46.

Analysts Set New Price Targets

A number of analysts have commented on EVER shares. Needham & Company LLC increased their price target on shares of EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. upped their target price on EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $34.00.

EverQuote Price Performance

The firm has a market capitalization of $537.96 million, a price-to-earnings ratio of 10.46 and a beta of 0.50. The stock has a fifty day moving average of $24.84 and a two-hundred day moving average of $23.92.

Insider Activity

In other news, CAO Jon Ayotte sold 3,639 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $26.76, for a total value of $97,379.64. Following the transaction, the chief accounting officer owned 49,233 shares in the company, valued at approximately $1,317,475.08. The trade was a 6.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David Brainard sold 5,709 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $25.05, for a total transaction of $143,010.45. Following the completion of the sale, the chief technology officer directly owned 101,603 shares in the company, valued at approximately $2,545,155.15. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 59,507 shares of company stock worth $1,494,612. 25.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On EverQuote

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of EverQuote by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,221,494 shares of the company’s stock valued at $59,980,000 after purchasing an additional 20,156 shares in the last quarter. Acadian Asset Management LLC increased its stake in EverQuote by 1.2% in the 2nd quarter. Acadian Asset Management LLC now owns 866,481 shares of the company’s stock valued at $20,939,000 after buying an additional 10,233 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of EverQuote by 27.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 800,114 shares of the company’s stock worth $19,347,000 after buying an additional 171,787 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of EverQuote by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 741,481 shares of the company’s stock worth $20,023,000 after buying an additional 16,348 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of EverQuote by 3.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 727,956 shares of the company’s stock worth $16,648,000 after buying an additional 26,980 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

About EverQuote

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.