Point72 Asset Management L.P. Raises Position in EverQuote, Inc. (NASDAQ:EVER)

Point72 Asset Management L.P. lifted its stake in shares of EverQuote, Inc. (NASDAQ:EVER) by 2,301.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 461,013 shares of the company’s stock after acquiring an additional 441,815 shares during the quarter. Point72 Asset Management L.P. owned 1.30% of EverQuote worth $9,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Counterpoint Mutual Funds LLC grew its stake in EverQuote by 74.3% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 38,053 shares of the company’s stock worth $761,000 after purchasing an additional 16,217 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of EverQuote during the fourth quarter worth about $236,000. Jump Financial LLC increased its stake in shares of EverQuote by 18.2% during the fourth quarter. Jump Financial LLC now owns 72,000 shares of the company’s stock worth $1,439,000 after buying an additional 11,072 shares during the period. Hillsdale Investment Management Inc. increased its stake in shares of EverQuote by 24.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 210,700 shares of the company’s stock worth $4,212,000 after buying an additional 41,500 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in EverQuote by 28.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,344 shares of the company’s stock valued at $6,184,000 after acquiring an additional 68,862 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EverQuote news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction on Monday, April 21st. The shares were sold at an average price of $21.36, for a total value of $306,729.60. Following the transaction, the chief executive officer now directly owns 587,509 shares in the company, valued at approximately $12,549,192.24. The trade was a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Shields sold 2,000 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.93, for a total transaction of $41,860.00. Following the sale, the director now owns 26,515 shares of the company’s stock, valued at $554,958.95. This trade represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,967 shares of company stock worth $5,278,231 in the last quarter. 29.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EVER has been the subject of several analyst reports. Canaccord Genuity Group lowered their price target on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on EverQuote from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of EverQuote in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EverQuote has an average rating of “Buy” and an average price target of $32.50.

EverQuote Price Performance

NASDAQ EVER opened at $24.27 on Monday. The firm’s fifty day moving average price is $24.39 and its 200 day moving average price is $21.60. EverQuote, Inc. has a 12 month low of $16.63 and a 12 month high of $30.03. The company has a market capitalization of $867.02 million, a price-to-earnings ratio of 71.38 and a beta of 0.45.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.18. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The company had revenue of $147.46 million for the quarter, compared to analyst estimates of $133.83 million. As a group, sell-side analysts forecast that EverQuote, Inc. will post 0.72 earnings per share for the current year.

EverQuote Company Profile

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.