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 EverQuote stock in a transaction on Sunday, August 10th. The shares were sold at an average price of $23.33, for a total value of $20,997,000.00. Following the completion of the transaction, the insider owned 2,598,154 shares of the company's stock, 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 SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

EverQuote Stock Performance

Shares of EVER traded up $0.08 during mid-day trading on Friday, reaching $23.43. 463,672 shares of the company's stock traded hands, compared to its average volume of 530,912. EverQuote, Inc. has a 12 month low of $16.63 and a 12 month high of $30.03. The stock has a market capitalization of $855.50 million, a P/E ratio of 18.90 and a beta of 0.37. The business's 50-day moving average price is $24.58 and its 200-day moving average price is $24.09.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on EVER shares. Needham & Company LLC restated a "buy" rating and issued a $38.00 price target on shares of EverQuote in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $32.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of EverQuote by 271.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company's stock worth $79,000 after purchasing an additional 2,381 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of EverQuote in the second quarter worth about $153,000. Man Group plc bought a new position in shares of EverQuote during the second quarter worth about $1,110,000. Lazard Asset Management LLC boosted its position in EverQuote by 31.8% during the second quarter. Lazard Asset Management LLC now owns 208,214 shares of the company's stock valued at $5,033,000 after purchasing an additional 50,190 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of EverQuote by 22.5% in the second quarter. BNP Paribas Financial Markets now owns 48,701 shares of the company's stock valued at $1,178,000 after buying an additional 8,936 shares during the last quarter. Institutional investors 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.