Canaccord Genuity Group Cuts EverQuote (NASDAQ:EVER) Price Target to $30.00

EverQuote (NASDAQ:EVER) had its target price lowered by Canaccord Genuity Group from $35.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 44.40% from the stock’s current price.

A number of other research firms have also weighed in on EVER. JPMorgan Chase & Co. lowered their price target on shares of EverQuote from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, January 10th. B. Riley lowered their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Raymond James raised EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Thursday, December 26th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $31.67.

EverQuote Stock Down 4.1 %

Shares of NASDAQ:EVER opened at $20.78 on Monday. The company has a market capitalization of $734.40 million, a price-to-earnings ratio of 61.10 and a beta of 0.96. The company has a 50 day moving average of $19.69 and a two-hundred day moving average of $20.09. EverQuote has a 52-week low of $14.28 and a 52-week high of $28.09.

Insider Transactions at EverQuote

In related news, Director John L. Shields sold 2,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $20.00, for a total transaction of $40,000.00. Following the sale, the director now owns 28,515 shares in the company, valued at $570,300. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Brainard sold 14,590 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $17.44, for a total transaction of $254,449.60. Following the completion of the transaction, the chief technology officer now directly owns 137,291 shares in the company, valued at $2,394,355.04. This represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,412 shares of company stock worth $1,178,790. 29.79% of the stock is currently owned by corporate insiders.

Institutional Trading of EverQuote

Several hedge funds have recently made changes to their positions in EVER. Gladius Capital Management LP bought a new stake in EverQuote in the third quarter valued at $26,000. R Squared Ltd bought a new stake in EverQuote in the 4th quarter valued at about $34,000. Quarry LP lifted its position in EverQuote by 100.7% in the 3rd quarter. Quarry LP now owns 2,894 shares of the company’s stock valued at $61,000 after purchasing an additional 1,452 shares during the last quarter. Quantbot Technologies LP boosted its stake in EverQuote by 115.1% during the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock valued at $74,000 after purchasing an additional 1,874 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in EverQuote in the 4th quarter worth about $90,000. Institutional investors own 91.54% of the company’s stock.

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.