EverQuote (NASDAQ:EVER) Trading Down 10.5% – Here’s What Happened

by · The Cerbat Gem

EverQuote, Inc. (NASDAQ:EVERGet Free Report) dropped 10.5% on Wednesday . The company traded as low as $14.88 and last traded at $14.7340. Approximately 421,131 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 728,065 shares. The stock had previously closed at $16.46.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen lowered EverQuote from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Zacks Research raised shares of EverQuote from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of EverQuote in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of EverQuote from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, Needham & Company LLC increased their price objective on EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $34.00.

Get Our Latest Report on EverQuote

EverQuote Trading Up 1.2%

The firm’s fifty day simple moving average is $24.06 and its 200 day simple moving average is $23.72. The company has a market cap of $527.17 million, a price-to-earnings ratio of 10.25 and a beta of 0.50.

Insiders Place Their Bets

In other news, CAO Jon Ayotte sold 3,639 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $26.76, for a total value of $97,379.64. Following the transaction, the chief accounting officer owned 49,233 shares in the company, valued at approximately $1,317,475.08. This represents a 6.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $25.73, for a total value of $51,460.00. Following the sale, the director owned 25,219 shares of the company’s stock, valued at approximately $648,884.87. The trade was a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 59,507 shares of company stock worth $1,494,612. 25.52% of the stock is owned by corporate insiders.

Institutional Trading of EverQuote

Institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. boosted its stake in EverQuote by 110.7% in the third quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock valued at $15,720,000 after acquiring an additional 361,082 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of EverQuote by 95.1% in the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock valued at $15,853,000 after purchasing an additional 319,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of EverQuote by 615.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock valued at $8,896,000 after purchasing an additional 292,172 shares during the period. Lazard Asset Management LLC boosted its position in shares of EverQuote by 138.2% in the 3rd quarter. Lazard Asset Management LLC now owns 495,970 shares of the company’s stock valued at $11,343,000 after purchasing an additional 287,756 shares during the period. Finally, SG Americas Securities LLC grew its stake in EverQuote by 1,100.6% during the 4th quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock worth $6,613,000 after buying an additional 224,535 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Company Profile

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EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.

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