EverQuote (NASDAQ:EVER) Sets New 52-Week Low – Should You Sell?
by Michael Walen · The Markets DailyShares of EverQuote, Inc. (NASDAQ:EVER – Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $17.19 and last traded at $17.5680, with a volume of 71625 shares trading hands. The stock had previously closed at $18.09.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on EVER. Needham & Company LLC boosted their target price on shares of EverQuote from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Zacks Research upgraded shares of EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Wall Street Zen cut EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of EverQuote in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $34.00.
Get Our Latest Stock Analysis on EverQuote
EverQuote Stock Performance
The stock’s 50 day simple moving average is $25.25 and its 200-day simple moving average is $24.05. The firm has a market cap of $625.27 million, a price-to-earnings ratio of 12.25 and a beta of 0.50.
Insider Transactions at EverQuote
In other EverQuote news, CEO Jayme Mendal sold 14,360 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $24.15, for a total transaction of $346,794.00. Following the completion of the transaction, the chief executive officer owned 406,404 shares in the company, valued at $9,814,656.60. The trade was a 3.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Shields sold 2,000 shares of the firm’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 transaction, the director owned 25,219 shares in the company, valued at $648,884.87. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 59,507 shares of company stock valued at $1,494,612. Corporate insiders own 25.52% of the company’s stock.
Institutional Investors Weigh In On EverQuote
A number of institutional investors have recently modified their holdings of the business. Balyasny Asset Management L.P. grew its position in EverQuote by 110.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 687,367 shares of the company’s stock worth $15,720,000 after purchasing an additional 361,082 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of EverQuote by 95.1% during the 2nd quarter. AQR Capital Management LLC now owns 655,615 shares of the company’s stock worth $15,853,000 after acquiring an additional 319,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in EverQuote by 615.1% during 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 worth $8,896,000 after buying an additional 292,172 shares during the period. Lazard Asset Management LLC boosted its stake in EverQuote by 138.2% in the 3rd quarter. Lazard Asset Management LLC now owns 495,970 shares of the company’s stock worth $11,343,000 after purchasing an additional 287,756 shares during the period. Finally, SG Americas Securities LLC raised its position in EverQuote by 1,100.6% during the fourth quarter. SG Americas Securities LLC now owns 244,937 shares of the company’s stock valued at $6,613,000 after buying an additional 224,535 shares during the period. Institutional investors own 91.54% of the company’s stock.
EverQuote Company Profile
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.