Short Interest in EverQuote, Inc. (NASDAQ:EVER) Decreases By 10.5%

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,880,000 shares, a decline of 10.5% from the October 15th total of 2,100,000 shares. Based on an average daily volume of 518,700 shares, the short-interest ratio is presently 3.6 days.

EverQuote Price Performance

EVER traded up $0.23 during trading on Tuesday, hitting $18.80. 380,893 shares of the stock traded hands, compared to its average volume of 474,211. The firm has a 50-day moving average of $19.85 and a 200 day moving average of $21.76. EverQuote has a 12-month low of $8.18 and a 12-month high of $28.09. The firm has a market capitalization of $664.60 million, a P/E ratio of 55.03 and a beta of 1.06.

EverQuote (NASDAQ:EVER) last released its earnings results on Monday, November 4th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The firm had revenue of $144.53 million for the quarter, compared to the consensus estimate of $140.30 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The company’s quarterly revenue was up 162.7% compared to the same quarter last year. As a group, equities analysts predict that EverQuote will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CTO David Brainard sold 3,164 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $22.02, for a total value of $69,671.28. Following the completion of the sale, the chief technology officer now owns 160,986 shares in the company, valued at approximately $3,544,911.72. This represents a 1.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Sanborn sold 4,800 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $21.54, for a total transaction of $103,392.00. Following the transaction, the chief financial officer now directly owns 207,691 shares of the company’s stock, valued at $4,473,664.14. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,644 shares of company stock valued at $349,244 over the last 90 days. Insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Several institutional investors have recently bought and sold shares of EVER. Gladius Capital Management LP purchased a new position in EverQuote in the 3rd quarter valued at approximately $26,000. Quarry LP boosted its holdings in shares of EverQuote by 215.5% in the 2nd quarter. Quarry LP now owns 1,442 shares of the company’s stock valued at $30,000 after buying an additional 985 shares during the period. nVerses Capital LLC bought a new stake in shares of EverQuote during the 2nd quarter worth about $35,000. CWM LLC raised its holdings in shares of EverQuote by 133.2% in the 2nd quarter. CWM LLC now owns 1,861 shares of the company’s stock worth $39,000 after purchasing an additional 1,063 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in shares of EverQuote by 115.1% in the third quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock worth $74,000 after acquiring an additional 1,874 shares in the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EVER has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum lifted their price objective on shares of EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Needham & Company LLC boosted their price objective on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, B. Riley decreased their price objective on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.50.

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.