EverQuote (NASDAQ:EVER) Shares Down 5.5% After Insider Selling

Key Points

• EverQuote shares fell 5.5% to $19.60 following insider selling, with CTO David Brainard selling two separate blocks totaling 4,960 shares. CEO Jayme Mendal also sold 20,980 shares to cover tax withholding obligations tied to vested equity awards.
• Wall Street remains broadly positive: six analysts rate the stock Buy and two rate it Hold, resulting in a Moderate Buy consensus and an average price target of $28.17.
• EverQuote reported quarterly revenue of $195.09 million, up 24.6% year over year, and EPS of $0.53, slightly exceeding estimates. Institutional investors own 91.54% of the company, with several major funds recently increasing their positions.

Shares of EverQuote, Inc. (NASDAQ:EVER - Get Free Report) were down 5.5% during trading on Friday following insider selling activity. The company traded as low as $19.60 and last traded at $19.60. 205,097 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 840,047 shares. The stock had previously closed at $20.74.

Specifically, CTO David Brainard sold 2,626 shares of the business's stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $19.90, for a total transaction of $52,257.40. Following the completion of the transaction, the chief technology officer directly owned 150,178 shares of the company's stock, valued at $2,988,542.20. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David Brainard sold 2,334 shares of EverQuote stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $19.48, for a total transaction of $45,466.32. Following the sale, the chief technology officer directly owned 152,804 shares of the company's stock, valued at approximately $2,976,621.92. This trade represents a 1.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In related news, CEO Jayme Mendal sold 20,980 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $19.69, for a total value of $413,096.20. Following the completion of the transaction, the chief executive officer directly owned 557,828 shares of the company's stock, valued at $10,983,633.32. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analysts Forecast Growth

EVER has been the subject of several research analyst reports. B. Riley Financial reissued a "buy" rating and issued a $34.00 price objective (up from $30.00) on shares of EverQuote in a report on Tuesday, August 4th. Weiss Ratings raised EverQuote from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 26th. Zacks Research upgraded shares of EverQuote from a "strong sell" rating to a "hold" rating in a research report on Friday, October 2nd. Needham & Company LLC increased their price objective 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, Raymond James Financial reissued an "outperform" rating and set a $28.00 price target on shares of EverQuote in a research report on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, EverQuote currently has a consensus rating of "Moderate Buy" and an average price target of $28.17.

EverQuote Stock Down 5.5%

The firm has a 50 day moving average price of $23.22 and a two-hundred day moving average price of $21.10. The company has a market capitalization of $706.19 million, a price-to-earnings ratio of 6.36 and a beta of 0.68.

EverQuote (NASDAQ:EVER - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. The business had revenue of $195.09 million for the quarter, compared to analyst estimates of $191.06 million. EverQuote had a net margin of 15.16% and a return on equity of 50.29%. The company's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. Analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in EverQuote by 28.9% during the 1st quarter. Renaissance Technologies LLC now owns 941,467 shares of the company's stock valued at $14,517,000 after purchasing an additional 211,360 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in EverQuote by 47.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 909,877 shares of the company's stock worth $13,412,000 after purchasing an additional 293,160 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of EverQuote by 1.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 743,869 shares of the company's stock worth $11,470,000 after buying an additional 13,276 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in EverQuote by 37.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 695,716 shares of the company's stock valued at $10,728,000 after acquiring an additional 190,438 shares during the last quarter. Finally, Jacobs Asset Management LLC lifted its stake in EverQuote by 199.9% during the first quarter. Jacobs Asset Management LLC now owns 403,300 shares of the company's stock valued at $6,219,000 after purchasing an additional 268,819 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

About EverQuote

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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