Short Interest in EverQuote, Inc. (NASDAQ:EVER) Declines By 21.0%

EverQuote, Inc. (NASDAQ:EVER) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,430,000 shares, a decline of 21.0% from the February 13th total of 1,810,000 shares. Based on an average daily trading volume, of 520,200 shares, the short-interest ratio is presently 2.7 days. Approximately 5.8% of the company’s shares are short sold.

Insider Activity

In other EverQuote news, CTO David Brainard sold 29,248 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $19.93, for a total value of $582,912.64. Following the transaction, the chief technology officer now owns 116,212 shares in the company, valued at $2,316,105.16. The trade was a 20.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.00, for a total transaction of $40,000.00. Following the completion of the transaction, the director now owns 28,515 shares in the company, valued at $570,300. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,453 shares of company stock valued at $1,459,054 in the last ninety days. Company insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP acquired a new position in shares of EverQuote during the 3rd quarter worth $26,000. R Squared Ltd acquired a new position in EverQuote in the 4th quarter valued at $34,000. Quarry LP grew its stake 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 buying an additional 1,452 shares during the last quarter. Quantbot Technologies LP grew its stake in EverQuote by 115.1% in the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock valued at $74,000 after buying an additional 1,874 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of EverQuote by 80.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 4,582 shares of the company’s stock worth $90,000 after acquiring an additional 2,042 shares during the period. Institutional investors and hedge funds own 91.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Canaccord Genuity Group cut their price objective on shares of EverQuote from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Needham & Company LLC upped their target price on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of EverQuote from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Raymond James upgraded shares of EverQuote from an “outperform” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Thursday, December 26th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $32.33.

EverQuote Stock Up 4.6 %

NASDAQ:EVER traded up $1.22 during trading hours on Monday, reaching $27.83. 618,094 shares of the company’s stock were exchanged, compared to its average volume of 500,766. The company has a market capitalization of $994.13 million, a P/E ratio of 81.88 and a beta of 1.01. EverQuote has a 12 month low of $16.63 and a 12 month high of $28.16. The business’s 50-day simple moving average is $21.71 and its two-hundred day simple moving average is $20.42.

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