Victory Capital Management Inc. Trims Stock Holdings in EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Victory Capital Management Inc. has reduced its stake in EverQuote, Inc. by 21.1%, selling 13,452 shares and now owning approximately 50,161 shares valued at $1.31 million.
• Multiple analysts have a positive outlook on EverQuote, with a consensus rating of "Buy" and a target price set at $32.50.
• Insider transactions show that directors and executives have sold significant shares recently, with a total of 63,162 shares sold over the last ninety days.

Victory Capital Management Inc. reduced its holdings in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,161 shares of the company's stock after selling 13,452 shares during the period. Victory Capital Management Inc. owned about 0.14% of EverQuote worth $1,314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EVER. KLP Kapitalforvaltning AS acquired a new position in shares of EverQuote during the fourth quarter valued at approximately $90,000. FNY Investment Advisers LLC purchased a new stake in shares of EverQuote during the first quarter worth approximately $157,000. Tower Research Capital LLC TRC increased its position in shares of EverQuote by 23.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,968 shares of the company's stock worth $179,000 after purchasing an additional 1,724 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in EverQuote in the 4th quarter valued at $180,000. Finally, Arizona State Retirement System purchased a new position in EverQuote in the 1st quarter valued at $202,000. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO David Brainard sold 6,609 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $23.54, for a total value of $155,575.86. Following the completion of the sale, the chief technology officer owned 142,665 shares of the company's stock, valued at $3,358,334.10. This represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Shields sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $24.30, for a total transaction of $48,600.00. Following the sale, the director owned 31,219 shares of the company's stock, valued at $758,621.70. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,162 shares of company stock worth $1,524,781. Insiders own 29.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EVER shares. Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 target price on shares of EverQuote in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $32.50.

EverQuote Trading Down 2.0%

NASDAQ:EVER traded down $0.49 during trading hours on Friday, hitting $24.10. The company had a trading volume of 398,488 shares, compared to its average volume of 353,140. EverQuote, Inc. has a 1 year low of $16.63 and a 1 year high of $30.03. The company has a market cap of $860.85 million, a P/E ratio of 20.66 and a beta of 0.37. The company has a 50-day moving average of $24.50 and a 200 day moving average of $23.66.

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.