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

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,260,000 shares, a decrease of 6.2% from the September 15th total of 2,410,000 shares. Based on an average daily volume of 515,400 shares, the short-interest ratio is currently 4.4 days.

EverQuote Trading Up 0.4 %

EVER stock traded up $0.09 during trading on Wednesday, hitting $20.17. The company had a trading volume of 380,131 shares, compared to its average volume of 456,941. The stock has a market cap of $700.40 million, a PE ratio of -14.30 and a beta of 1.04. The business has a 50-day moving average of $21.67 and a 200-day moving average of $21.85. EverQuote has a one year low of $6.64 and a one year high of $28.09.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.14. The company had revenue of $117.14 million during the quarter, compared to analysts’ expectations of $102.81 million. EverQuote had a negative net margin of 8.55% and a negative return on equity of 13.24%. EverQuote’s revenue for the quarter was up 72.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.31) earnings per share. Research analysts forecast that EverQuote will post 0.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director George R. Neble sold 2,500 shares of EverQuote stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $19.42, for a total value of $48,550.00. Following the transaction, the director now owns 54,970 shares in the company, valued at approximately $1,067,517.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director George R. Neble sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $19.42, for a total value of $48,550.00. Following the sale, the director now directly owns 54,970 shares in the company, valued at approximately $1,067,517.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jon Ayotte sold 3,199 shares of EverQuote stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,975.00. Following the sale, the chief accounting officer now directly owns 48,650 shares in the company, valued at $1,216,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,502 shares of company stock worth $2,854,013 over the last three months. Insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVER. Vanguard Group Inc. increased its holdings in EverQuote by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock worth $21,487,000 after purchasing an additional 30,577 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of EverQuote by 127.6% during the 1st quarter. BNP Paribas Financial Markets now owns 54,755 shares of the company’s stock worth $1,016,000 after buying an additional 30,699 shares during the period. Russell Investments Group Ltd. increased its stake in shares of EverQuote by 244,503.3% in the 1st quarter. Russell Investments Group Ltd. now owns 293,524 shares of the company’s stock valued at $5,448,000 after acquiring an additional 293,404 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of EverQuote during the 1st quarter valued at $2,167,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of EverQuote during the 2nd quarter valued at $782,000. 91.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EVER shares. JPMorgan Chase & Co. boosted their price objective on EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Needham & Company LLC upped their price objective on EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Craig Hallum lifted their target price on shares of EverQuote from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $29.58.

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.