JPMorgan Chase & Co. Buys 373,280 Shares of EverQuote, Inc. (NASDAQ:EVER)

JPMorgan Chase & Co. raised its holdings in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 3,022.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 385,629 shares of the company's stock after purchasing an additional 373,280 shares during the period. JPMorgan Chase & Co. owned approximately 1.09% of EverQuote worth $8,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Gladius Capital Management LP bought a new position in shares of EverQuote in the third quarter worth $26,000. Quarry LP grew its stake in EverQuote by 215.5% during the second quarter. Quarry LP now owns 1,442 shares of the company's stock worth $30,000 after buying an additional 985 shares in the last quarter. nVerses Capital LLC increased its holdings in EverQuote by 41.2% in the 3rd quarter. nVerses Capital LLC now owns 2,400 shares of the company's stock valued at $51,000 after buying an additional 700 shares during the period. Quantbot Technologies LP raised its position in shares of 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 buying an additional 1,874 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of EverQuote by 143.0% during the 3rd quarter. CWM LLC now owns 4,522 shares of the company's stock worth $95,000 after acquiring an additional 2,661 shares during the period. Institutional investors and hedge funds own 91.54% of the company's stock.

Insider Activity at EverQuote

In related news, CTO David Brainard sold 29,248 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $19.93, for a total value of $582,912.64. Following the completion of the sale, the chief technology officer now directly owns 116,212 shares in the company, valued at $2,316,105.16. This represents a 20.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 52,668 shares of company stock worth $1,005,134 in the last quarter. 29.79% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EVER. B. Riley decreased their price objective on shares of EverQuote from $36.50 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on EverQuote from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, January 10th. Finally, Raymond James upgraded EverQuote from an "outperform" rating to a "strong-buy" rating and set a $35.00 price objective for the company in a research report on Thursday, December 26th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $31.67.

EverQuote Stock Up 4.9 %

Shares of NASDAQ:EVER traded up $0.88 during trading on Wednesday, hitting $18.79. 330,324 shares of the company were exchanged, compared to its average volume of 381,516. EverQuote, Inc. has a 1-year low of $10.21 and a 1-year high of $28.09. The company has a market capitalization of $664.25 million, a P/E ratio of 55.26 and a beta of 0.96. The business's 50 day moving average is $18.81 and its 200-day moving average is $20.74.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $144.53 million during the quarter, compared to the consensus estimate of $140.30 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The business's quarterly revenue was up 162.7% on a year-over-year basis. During the same period last year, the company earned ($0.40) earnings per share. As a group, sell-side analysts anticipate that EverQuote, Inc. will post 0.72 earnings per share for the current year.

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.