EverQuote, Inc. (NASDAQ:EVER) Sees Large Decrease in Short Interest

by · The Markets Daily

EverQuote, Inc. (NASDAQ:EVER – Get Free Report) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 1,430,000 shares, a decrease of 21.0% from the February 13th total of 1,810,000 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average trading volume of 520,200 shares, the short-interest ratio is currently 2.7 days.

EverQuote Stock Down 5.7 %

Shares of EverQuote stock traded down $1.59 on Tuesday, hitting $26.46. The stock had a trading volume of 1,074,524 shares, compared to its average volume of 506,816. EverQuote has a twelve month low of $16.63 and a twelve month high of $28.89. The business’s 50 day moving average is $22.02 and its two-hundred day moving average is $20.46. The stock has a market cap of $945.26 million, a price-to-earnings ratio of 77.82 and a beta of 1.01.

EverQuote (NASDAQ:EVER – Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. The business had revenue of $147.46 million during the quarter, compared to analysts’ expectations of $133.83 million. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. As a group, equities analysts predict that EverQuote will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Raymond James raised EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Thursday, December 26th. Canaccord Genuity Group lowered their price target on EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. boosted their price target on EverQuote from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC upped their target price on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. 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 company has a consensus rating of “Buy” and a consensus target price of $32.33.

Check Out Our Latest Report on EVER

Insider Buying and Selling

In other EverQuote news, CTO David Brainard sold 29,248 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $19.93, for a total transaction of $582,912.64. Following the transaction, the chief technology officer now owns 116,212 shares of the company’s stock, valued at $2,316,105.16. The trade was a 20.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jon Ayotte sold 7,647 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $25.72, for a total value of $196,680.84. Following the transaction, the chief accounting officer now directly owns 58,045 shares in the company, valued at approximately $1,492,917.40. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,863 shares of company stock worth $1,204,605. Corporate insiders own 29.79% of the company’s stock.

Institutional Investors Weigh In On EverQuote

Several institutional investors have recently made changes to their positions in EVER. Gladius Capital Management LP bought a new stake in EverQuote during the third quarter worth $26,000. R Squared Ltd bought a new stake in EverQuote during the fourth quarter worth $34,000. Quarry LP lifted its stake in EverQuote by 100.7% during the third quarter. Quarry LP now owns 2,894 shares of the company’s stock worth $61,000 after purchasing an additional 1,452 shares during the last quarter. Quantbot Technologies LP lifted its stake in EverQuote by 115.1% during the third quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock worth $74,000 after purchasing an additional 1,874 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in EverQuote by 80.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company’s stock worth $90,000 after purchasing an additional 2,042 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.

EverQuote Company Profile

(Get Free Report)

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.

See Also