EverQuote (NASDAQ:EVER) Shares Gap Down Following Insider Selling

EverQuote, Inc. (NASDAQ:EVER - Get Free Report) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $26.88, but opened at $26.15. EverQuote shares last traded at $26.22, with a volume of 101,696 shares changing hands.

Specifically, CAO Jon Ayotte sold 7,647 shares of EverQuote stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $25.72, for a total transaction of $196,680.84. Following the completion of the sale, the chief accounting officer now directly owns 58,045 shares of the company's stock, valued at $1,492,917.40. The trade was a 11.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO David Brainard sold 2,238 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $26.14, for a total value of $58,501.32. Following the completion of the transaction, the chief technology officer now owns 153,336 shares in the company, valued at approximately $4,008,203.04. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

EVER has been the subject of a number of research analyst reports. Needham & Company LLC upped their price target on EverQuote from $30.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Canaccord Genuity Group dropped their target price on shares of EverQuote from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Raymond James raised shares of EverQuote from an "outperform" rating to a "strong-buy" rating and set a $35.00 price target for the company in a research report on Thursday, December 26th. Finally, JPMorgan Chase & Co. raised their price objective on EverQuote from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, EverQuote currently has a consensus rating of "Buy" and a consensus target price of $32.33.

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EverQuote Price Performance

The business's 50 day simple moving average is $20.90 and its 200 day simple moving average is $20.27. The company has a market capitalization of $920.19 million, a price-to-earnings ratio of 76.56 and a beta of 1.01.

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

Hedge Funds Weigh In On EverQuote

Institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in shares of EverQuote in the 3rd quarter worth $26,000. R Squared Ltd acquired a new stake in EverQuote in the fourth quarter valued at about $34,000. Quarry LP boosted its holdings in EverQuote by 100.7% in the 3rd quarter. Quarry LP now owns 2,894 shares of the company's stock valued at $61,000 after purchasing an additional 1,452 shares in the last quarter. Quantbot Technologies LP boosted its holdings in EverQuote by 115.1% in the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company's stock valued at $74,000 after purchasing an additional 1,874 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in EverQuote by 80.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company's stock worth $90,000 after purchasing an additional 2,042 shares during the period. 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.