EverQuote (NASDAQ:EVER) Stock: Insider Joseph Sanborn Sells 639 Shares

Key Points

• CFO Joseph Sanborn sold 639 EverQuote shares at an average price of $19.87, generating $12,696.93. The sale reduced his holdings by 0.22% and covered tax withholding obligations tied to vested equity awards.
• EverQuote shares fell 0.5% to $19.41, while the company reported quarterly revenue of $195.09 million, up 24.6% year over year, and earnings of $0.53 per share.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $28.17, while institutional investors and hedge funds own 91.54% of the company.

EverQuote, Inc. (NASDAQ:EVER - Get Free Report) CFO Joseph Sanborn sold 639 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $19.87, for a total transaction of $12,696.93. Following the completion of the sale, the chief financial officer owned 292,826 shares of the company's stock, valued at $5,818,452.62. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Sanborn also recently made the following trade(s):

• On Monday, August 10th, Joseph Sanborn sold 6,667 shares of EverQuote stock. The stock was sold at an average price of $25.51, for a total transaction of $170,075.17.
• On Wednesday, July 8th, Joseph Sanborn sold 6,667 shares of EverQuote stock. The stock was sold at an average price of $24.63, for a total transaction of $164,208.21.

EverQuote Trading Down 0.5%

Shares of EVER traded down $0.09 during mid-day trading on Monday, hitting $19.41. 992,258 shares of the company traded hands, compared to its average volume of 847,898. EverQuote, Inc. has a one year low of $13.88 and a one year high of $28.73. The business has a 50-day moving average of $23.75 and a 200 day moving average of $20.98. The stock has a market capitalization of $699.34 million, a price-to-earnings ratio of 6.30 and a beta of 0.68.

EverQuote (NASDAQ:EVER - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The firm had revenue of $195.09 million during the quarter, compared to analysts' expectations of $191.06 million. During the same quarter in the previous year, the company posted $0.39 EPS. EverQuote's revenue was up 24.6% on a year-over-year basis. As a group, analysts anticipate that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Institutional Trading of EverQuote

A number of hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in EverQuote during the second quarter valued at approximately $55,000. IFP Advisors Inc raised its holdings in EverQuote by 100.1% in the second quarter. IFP Advisors Inc now owns 3,219 shares of the company's stock worth $77,000 after purchasing an additional 1,610 shares during the period. Squarepoint Ops LLC acquired a new stake in EverQuote in the second quarter worth $2,889,000. Allworth Financial LP boosted its position in shares of EverQuote by 63.7% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company's stock worth $61,000 after purchasing an additional 997 shares in the last quarter. Finally, Corient Private Wealth LP boosted its position in shares of EverQuote by 85.4% during the second quarter. Corient Private Wealth LP now owns 79,174 shares of the company's stock worth $1,884,000 after purchasing an additional 36,461 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on EVER. Zacks Research lowered EverQuote from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. began coverage on EverQuote in a report on Monday, August 24th. They set an "overweight" rating and a $29.00 price objective for the company. Raymond James Financial restated an "outperform" rating and set a $28.00 target price on shares of EverQuote in a research report on Thursday, August 13th. Needham & Company LLC raised their target price on shares of EverQuote from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, B. Riley Financial reissued a "buy" rating and set a $34.00 price target (up from $30.00) on shares of EverQuote in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $28.17.

EverQuote Company Profile

EverQuote, Inc operates an online marketplace that helps consumers compare insurance options and connect with insurance providers. Its platform uses data, digital marketing and technology to match consumers seeking coverage with insurers and other insurance-related providers.

The company has primarily focused on auto insurance, while also supporting shopping and customer acquisition activities for additional property and casualty insurance products, including home and renters coverage.

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