Essex Investment Management Co. LLC Sells 13,889 Shares of EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Essex Investment Management Co. LLC has reduced its stake in EverQuote, Inc. by 7.7%, now holding 166,929 shares valued at approximately $4.37 million.
• Institutional ownership of EverQuote stands at 91.54%, with several firms like Vanguard and Toronado Partners increasing their stakes.
• EverQuote currently has an average rating of “Buy” from analysts, with a price target averaging $32.50, indicating strong market confidence in the stock's performance.

Essex Investment Management Co. LLC lowered its stake in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,929 shares of the company's stock after selling 13,889 shares during the quarter. EverQuote comprises approximately 0.9% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 26th biggest position. Essex Investment Management Co. LLC owned about 0.47% of EverQuote worth $4,372,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in shares of EverQuote in the 1st quarter valued at $407,000. Legato Capital Management LLC lifted its stake in shares of EverQuote by 75.4% in the 1st quarter. Legato Capital Management LLC now owns 55,308 shares of the company's stock valued at $1,449,000 after acquiring an additional 23,781 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of EverQuote in the 1st quarter valued at $441,000. Jackson Creek Investment Advisors LLC bought a new position in shares of EverQuote in the 1st quarter valued at $1,523,000. Finally, Sigma Planning Corp bought a new position in shares of EverQuote in the 1st quarter valued at $289,000. Institutional investors and hedge funds own 91.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EVER shares. JPMorgan Chase & Co. increased their price target on EverQuote from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of EverQuote in a research report on Tuesday, May 6th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, EverQuote presently has an average rating of "Buy" and a consensus price target of $32.50.

EverQuote Stock Down 2.1%

EVER stock traded down $0.52 during mid-day trading on Friday, reaching $24.07. 225,449 shares of the company traded hands, compared to its average volume of 542,476. The stock has a market cap of $859.88 million, a price-to-earnings ratio of 23.60 and a beta of 0.34. EverQuote, Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $30.03. The firm's 50 day moving average price is $24.50 and its 200 day moving average price is $23.66.

Insider Buying and Selling at EverQuote

In other EverQuote news, CTO David Brainard sold 6,609 shares of EverQuote stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.54, for a total transaction of $155,575.86. Following the completion of the transaction, the chief technology officer owned 142,665 shares in the company, valued at approximately $3,358,334.10. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julia Brncic sold 1,808 shares of EverQuote stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $24.31, for a total value of $43,952.48. Following the transaction, the general counsel owned 123,397 shares of the company's stock, valued at $2,999,781.07. This trade represents a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,162 shares of company stock worth $1,524,781. 29.79% of the stock is currently owned by corporate insiders.

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.