Earnest Partners LLC Sells 227,742 Shares of EverQuote, Inc. (NASDAQ:EVER)

Earnest Partners LLC cut its stake in EverQuote, Inc. (NASDAQ:EVER) by 32.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,952 shares of the company’s stock after selling 227,742 shares during the period. Earnest Partners LLC owned approximately 1.35% of EverQuote worth $9,761,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of EverQuote by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock valued at $21,487,000 after buying an additional 30,577 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in EverQuote by 127.6% in the 1st quarter. BNP Paribas Financial Markets now owns 54,755 shares of the company’s stock valued at $1,016,000 after acquiring an additional 30,699 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock worth $5,448,000 after acquiring an additional 293,404 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of EverQuote during the 1st quarter worth approximately $2,167,000. Finally, Inspire Investing LLC bought a new stake in shares of EverQuote during the second quarter valued at approximately $842,000. 91.54% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David B. Blundin sold 65,718 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $27.08, for a total transaction of $1,779,643.44. Following the sale, the director now directly owns 192,305 shares in the company, valued at approximately $5,207,619.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other EverQuote news, Director David B. Blundin sold 65,718 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $27.08, for a total value of $1,779,643.44. Following the transaction, the director now owns 192,305 shares of the company’s stock, valued at $5,207,619.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ventures Lllp Link sold 7,680 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $27.08, for a total value of $207,974.40. Following the completion of the sale, the insider now owns 3,510,721 shares of the company’s stock, valued at $95,070,324.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,998 shares of company stock worth $3,356,708. Insiders own 29.79% of the company’s stock.

Wall Street Analyst Weigh In

EVER has been the subject of several research reports. Needham & Company LLC raised their target price on EverQuote from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Craig Hallum upped their target price on shares of EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, EverQuote currently has a consensus rating of “Buy” and an average price target of $29.58.

EverQuote Price Performance

Shares of NASDAQ:EVER opened at $20.77 on Friday. The stock has a market capitalization of $728.61 million, a price-to-earnings ratio of -14.73 and a beta of 1.04. The business’s fifty day moving average price is $23.13 and its two-hundred day moving average price is $21.61. EverQuote, Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $28.09.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. The business had revenue of $117.14 million during the quarter, compared to analysts’ expectations of $102.81 million. EverQuote had a negative net margin of 8.55% and a negative return on equity of 13.24%. The firm’s revenue for the quarter was up 72.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) EPS. Research analysts expect that EverQuote, Inc. will post 0.57 EPS for the current fiscal year.

About EverQuote

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.