EverQuote (NASDAQ:EVER) Stock Price Down 5.5% - Here's What Happened

Shares of EverQuote, Inc. (NASDAQ:EVER - Get Free Report) were down 5.5% on Tuesday . The company traded as low as $26.76 and last traded at $26.51. Approximately 110,299 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 502,640 shares. The stock had previously closed at $28.05.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EVER shares. Needham & Company LLC raised their price target on EverQuote from $30.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. raised their price target on EverQuote from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Raymond James upgraded 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, Canaccord Genuity Group dropped their price target on EverQuote from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $32.33.

EverQuote Trading Up 2.4 %

The firm's 50 day moving average is $22.60 and its two-hundred day moving average is $20.59. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 84.44 and a beta of 1.01.

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

Insider Activity at EverQuote

In other news, CAO Jon Ayotte sold 7,647 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $25.72, for a total transaction of $196,680.84. Following the completion of the transaction, the chief accounting officer now owns 58,045 shares of the company's stock, valued at $1,492,917.40. This represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David Brainard sold 3,675 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.52, for a total transaction of $71,736.00. Following the transaction, the chief technology officer now directly owns 108,244 shares of the company's stock, valued at approximately $2,112,922.88. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,428 shares of company stock valued at $3,045,162. 29.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVER. R Squared Ltd purchased a new stake in shares of EverQuote during the 4th quarter worth about $34,000. Quarry LP grew its holdings in shares of EverQuote by 100.7% during the 3rd quarter. Quarry LP now owns 2,894 shares of the company's stock worth $61,000 after purchasing an additional 1,452 shares during the period. Quantbot Technologies LP grew its holdings in shares of EverQuote by 115.1% during the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company's stock worth $74,000 after purchasing an additional 1,874 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of EverQuote during the 4th quarter worth about $90,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of 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. Institutional investors and hedge funds own 91.54% of the company's stock.

EverQuote Company Profile

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.