EverQuote, Inc. (NASDAQ:EVER) Stock Position Lessened by Royce & Associates LP

Key Points

• Royce & Associates LP has reduced its holdings in EverQuote, Inc. by 16.5% during the first quarter, now owning 375,602 shares valued at approximately $9.84 million.
• JPMorgan Chase & Co. recently raised its price target for EverQuote from $29.00 to $30.00 and maintains an "overweight" rating on the stock.
• Insiders have sold a total of 63,162 shares worth approximately $1.52 million in the past three months, indicating possible profit-taking by company executives.

Royce & Associates LP decreased its position in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,602 shares of the company's stock after selling 74,120 shares during the period. Royce & Associates LP owned 1.05% of EverQuote worth $9,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank lifted its stake in EverQuote by 15.6% during the fourth quarter. Swiss National Bank now owns 52,600 shares of the company's stock valued at $1,051,000 after buying an additional 7,100 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in EverQuote in the fourth quarter worth approximately $384,000. KLP Kapitalforvaltning AS acquired a new position in EverQuote during the fourth quarter worth $90,000. Vanguard Group Inc. increased its holdings in shares of EverQuote by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company's stock valued at $40,314,000 after acquiring an additional 24,347 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised 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 during the period. Institutional investors own 91.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EVER. 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. Needham & Company LLC reiterated a "buy" rating and set a $38.00 target price on shares of EverQuote in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $32.50.

EverQuote Trading Down 0.6%

Shares of NASDAQ EVER opened at $25.71 on Friday. The firm has a market cap of $918.36 million, a PE ratio of 25.21 and a beta of 0.34. The company has a fifty day moving average price of $24.39 and a 200 day moving average price of $23.50. EverQuote, Inc. has a 1-year low of $16.63 and a 1-year high of $30.03.

Insider Buying and Selling

In related news, CTO David Brainard sold 6,609 shares of EverQuote stock in a transaction that occurred on 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 sale, the chief technology officer directly owned 142,665 shares of the company's stock, valued at approximately $3,358,334.10. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $24.30, for a total transaction of $48,600.00. Following the completion of the sale, the director owned 31,219 shares of the company's stock, valued at approximately $758,621.70. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,162 shares of company stock worth $1,524,781 over the last three months. Company insiders own 29.79% of the company's stock.

About EverQuote

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.

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