Baillie Gifford & Co. Reduces Stake in EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Baillie Gifford & Co. has reduced its holdings in EverQuote, Inc. by 7.1%, now owning approximately 0.62% of the company, valued at $5,795,000.
• Analysts have set a consensus price target of $32.50 for EverQuote, with JPMorgan Chase raising their target from $29.00 to $30.00 and maintaining an "overweight" rating.
• Insider selling has been noted, with key individuals including Director John L. Shields and CTO David Brainard reducing their stock holdings in recent months.

Baillie Gifford & Co. reduced its holdings in EverQuote, Inc. (NASDAQ:EVER - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 221,286 shares of the company's stock after selling 16,906 shares during the quarter. Baillie Gifford & Co. owned about 0.62% of EverQuote worth $5,795,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EVER. Divisadero Street Capital Management LP purchased a new position in shares of EverQuote during the fourth quarter valued at approximately $12,311,000. Freestone Grove Partners LP purchased a new position in shares of EverQuote during the fourth quarter valued at approximately $11,618,000. Emerald Advisers LLC purchased a new position in shares of EverQuote during the first quarter valued at approximately $11,621,000. Point72 Asset Management L.P. boosted its position in shares of EverQuote by 2,301.4% during the fourth quarter. Point72 Asset Management L.P. now owns 461,013 shares of the company's stock valued at $9,216,000 after buying an additional 441,815 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of EverQuote during the first quarter valued at approximately $8,383,000. 91.54% of the stock is currently owned by institutional investors.

EverQuote Price Performance

NASDAQ EVER traded up $0.22 during trading on Wednesday, reaching $24.49. The company's stock had a trading volume of 64,321 shares, compared to its average volume of 543,566. The stock has a market capitalization of $874.60 million, a PE ratio of 24.01 and a beta of 0.34. The firm has a fifty day moving average of $24.43 and a 200 day moving average of $23.61. EverQuote, Inc. has a one year low of $16.63 and a one year high of $30.03.

Insider Activity

In other news, CFO Joseph Sanborn sold 1,063 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $24.13, for a total transaction of $25,650.19. Following the transaction, the chief financial officer directly owned 261,390 shares in the company, valued at approximately $6,307,340.70. This represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Brainard sold 6,609 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $23.54, for a total value of $155,575.86. Following the transaction, the chief technology officer owned 142,665 shares in the company, valued at $3,358,334.10. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 63,162 shares of company stock worth $1,524,781. 29.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. 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. JPMorgan Chase & Co. boosted their price objective on EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, EverQuote currently has a consensus 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.