EverQuote (NASDAQ:EVER) Stock Price Up 6.9% – Time to Buy?

EverQuote, Inc. (NASDAQ:EVER)’s stock price traded up 6.9% during trading on Friday . The stock traded as high as $15.51 and last traded at $15.40. 947,884 shares were traded during mid-day trading, an increase of 13% from the average session volume of 836,008 shares. The stock had previously closed at $14.41.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC upped their target price on EverQuote from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Raymond James Financial reiterated an “outperform” rating and issued a $18.00 price target on shares of EverQuote in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded EverQuote from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $30.00.

EverQuote Stock Up 7.5%

The business’s 50 day simple moving average is $22.77 and its two-hundred day simple moving average is $23.37. The stock has a market cap of $556.96 million, a P/E ratio of 10.83 and a beta of 0.50.

Insider Transactions at EverQuote

In other news, CEO Jayme Mendal sold 14,360 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $24.15, for a total transaction of $346,794.00. Following the sale, the chief executive officer directly owned 406,404 shares in the company, valued at approximately $9,814,656.60. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jon Ayotte sold 3,639 shares of the company’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 completion of the transaction, the chief accounting officer directly owned 49,233 shares of the company’s stock, valued at $1,317,475.08. This represents a 6.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 43,768 shares of company stock worth $1,122,957. 25.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EverQuote

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank increased its position in EverQuote by 235.4% in the 3rd quarter. Comerica Bank now owns 1,100 shares of the company’s stock valued at $25,000 after acquiring an additional 772 shares during the period. Versant Capital Management Inc grew its stake in shares of EverQuote by 108.9% in the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock worth $26,000 after purchasing an additional 601 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of EverQuote by 70.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock worth $54,000 after purchasing an additional 826 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in EverQuote in the third quarter valued at $52,000. Finally, Jones Financial Companies Lllp increased its holdings in EverQuote by 595.8% in the third quarter. Jones Financial Companies Lllp now owns 2,623 shares of the company’s stock valued at $62,000 after purchasing an additional 2,246 shares during the period. 91.54% of the stock is currently owned by institutional investors and hedge funds.

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.