Mackenzie Financial Corp Sells 44,941 Shares of EverQuote, Inc. (NASDAQ:EVER)

Key Points

• Mackenzie Financial Corp has reduced its stake in EverQuote, Inc. by 43.1%, now holding 59,362 shares worth approximately $1.56 million.
• Insider transactions include CEO Jayme Mendal selling 14,360 shares and Director John L. Shields selling 2,000 shares, reflecting a decrease in their ownership stakes.
• Analysts have issued mixed ratings on EverQuote, with an average target price of $32.50 and a buy rating from five investment analysts.

Mackenzie Financial Corp trimmed its position in shares of EverQuote, Inc. (NASDAQ:EVER - Free Report) by 43.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,362 shares of the company's stock after selling 44,941 shares during the quarter. Mackenzie Financial Corp owned 0.17% of EverQuote worth $1,555,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EVER. Commonwealth Equity Services LLC acquired a new position in EverQuote during the fourth quarter worth $384,000. KLP Kapitalforvaltning AS bought a new stake in shares of EverQuote during the fourth quarter worth about $90,000. Vanguard Group Inc. raised its holdings in shares of EverQuote by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company's stock worth $40,314,000 after acquiring an additional 24,347 shares during the last quarter. Schroder Investment Management Group bought a new position in EverQuote in the 4th quarter valued at about $2,657,000. Finally, Alliancebernstein L.P. boosted its stake in EverQuote by 308.0% during the 4th quarter. Alliancebernstein L.P. now owns 108,890 shares of the company's stock valued at $2,177,000 after purchasing an additional 82,200 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.

EverQuote Stock Down 2.3%

EVER stock traded down $0.55 during trading on Friday, reaching $23.60. The stock had a trading volume of 251,237 shares, compared to its average volume of 547,225. The company has a market capitalization of $842.81 million, a price-to-earnings ratio of 19.03 and a beta of 0.37. EverQuote, Inc. has a one year low of $16.63 and a one year high of $30.03. The company's 50 day moving average is $24.65 and its two-hundred day moving average is $23.88.

EverQuote (NASDAQ:EVER - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $156.63 million during the quarter, compared to analyst estimates of $157.19 million. EverQuote had a return on equity of 36.90% and a net margin of 7.57%. EverQuote's quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, research analysts predict that EverQuote, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at EverQuote

In related news, CFO Joseph Sanborn sold 1,063 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $24.13, for a total transaction of $25,650.19. Following the completion of the sale, the chief financial officer owned 261,390 shares in the company, valued at approximately $6,307,340.70. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the chief technology officer directly owned 142,665 shares in the company, valued at approximately $3,358,334.10. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,162 shares of company stock worth $1,524,781. Company insiders own 29.79% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on EVER shares. JPMorgan Chase & Co. increased their price objective on EverQuote from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price target on shares of EverQuote in a research report on Tuesday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, EverQuote has a consensus rating of "Buy" and a consensus price target of $32.40.

EverQuote 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.