Bank of America Corp DE Trims Stake in EverQuote, Inc. (NASDAQ:EVER)

Bank of America Corp DE cut its stake in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 95.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,874 shares of the company's stock after selling 588,911 shares during the quarter. Bank of America Corp DE owned about 0.07% of EverQuote worth $517,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EVER. Freestone Grove Partners LP purchased a new position in shares of EverQuote in the fourth quarter valued at $11,618,000. Toronado Partners LLC grew its position in shares of EverQuote by 59.7% in the fourth quarter. Toronado Partners LLC now owns 718,774 shares of the company's stock valued at $14,368,000 after purchasing an additional 268,670 shares in the last quarter. Boston Partners purchased a new position in shares of EverQuote in the fourth quarter valued at $3,668,000. Arrowstreet Capital Limited Partnership grew its position in shares of EverQuote by 32.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company's stock valued at $13,076,000 after purchasing an additional 161,426 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in EverQuote by 68.5% during the fourth quarter. AQR Capital Management LLC now owns 394,874 shares of the company's stock worth $7,894,000 after buying an additional 160,494 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other EverQuote news, CTO David Brainard sold 1,291 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $23.11, for a total transaction of $29,835.01. Following the completion of the transaction, the chief technology officer now owns 141,374 shares of the company's stock, valued at $3,267,153.14. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David B. Blundin sold 77,600 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $28.67, for a total value of $2,224,792.00. Following the transaction, the director now directly owns 97,920 shares of the company's stock, valued at $2,807,366.40. The trade was a 44.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,330 shares of company stock valued at $5,376,526. Insiders own 29.79% of the company's stock.

EverQuote Price Performance

EVER stock traded down $1.08 during mid-day trading on Friday, hitting $24.66. 286,338 shares of the stock were exchanged, compared to its average volume of 548,214. EverQuote, Inc. has a 12 month low of $16.63 and a 12 month high of $30.03. The business has a fifty day moving average price of $23.48 and a 200 day moving average price of $22.28. The stock has a market capitalization of $880.95 million, a price-to-earnings ratio of 72.53 and a beta of 0.33.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EVER. Needham & Company LLC restated a "buy" rating and set a $38.00 target price on shares of EverQuote in a research report on Tuesday, May 6th. Canaccord Genuity Group reduced their target price on EverQuote from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Five equities 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 data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $32.50.

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.