EverQuote, Inc. (NASDAQ:EVER) Major Shareholder Ventures Lllp Link Sells 900,000 Shares

Key Points

• Ventures Lllp Link, a major shareholder of EverQuote, Inc., sold 900,000 shares, reducing their ownership by 25.73% and generating approximately $21 million from the sale.
• EverQuote reported a quarterly earnings per share of $0.39, surpassing estimates, with a revenue increase of 33.7% year-over-year despite slightly missing revenue expectations.
• Analysts have a consensus rating of "Buy" for EverQuote, with price targets ranging from $30.00 to $38.00.

EverQuote, Inc. (NASDAQ:EVER - Get Free Report) major shareholder Ventures Lllp Link sold 900,000 shares of the firm's stock in a transaction dated Sunday, August 10th. The stock was sold at an average price of $23.33, for a total value of $20,997,000.00. Following the sale, the insider directly owned 2,598,154 shares in the company, valued at approximately $60,614,932.82. This trade represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

EverQuote Price Performance

Shares of EVER stock traded down $0.04 on Tuesday, hitting $23.51. The stock had a trading volume of 524,434 shares, compared to its average volume of 472,985. The firm has a market capitalization of $839.78 million, a P/E ratio of 18.96 and a beta of 0.37. EverQuote, Inc. has a 1 year low of $16.63 and a 1 year high of $30.03. The company's 50 day moving average price is $24.65 and its 200-day moving average price is $24.03.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $156.63 million for the quarter, compared to the consensus estimate of $157.19 million. EverQuote had a return on equity of 36.90% and a net margin of 7.57%. The company's quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. On average, equities analysts forecast that EverQuote, Inc. will post 0.72 EPS for the current year.

Institutional Investors Weigh In On EverQuote

Several large investors have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC boosted its position in shares of EverQuote by 5.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 8,684 shares of the company's stock valued at $210,000 after purchasing an additional 453 shares during the period. Ameritas Investment Partners Inc. lifted its position in EverQuote by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company's stock worth $68,000 after acquiring an additional 573 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in EverQuote by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,383 shares of the company's stock worth $288,000 after acquiring an additional 608 shares during the period. Cetera Investment Advisers lifted its position in EverQuote by 4.3% during the 2nd quarter. Cetera Investment Advisers now owns 16,204 shares of the company's stock worth $392,000 after acquiring an additional 675 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in EverQuote by 7.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,004 shares of the company's stock worth $242,000 after acquiring an additional 695 shares during the period. Hedge funds and other institutional investors own 91.54% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on EverQuote from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of EverQuote in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EverQuote has a consensus rating of "Buy" and a consensus price target of $32.40.

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.

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