Short Interest in EverQuote, Inc. (NASDAQ:EVER) Expands By 45.0%

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,580,000 shares, a growth of 45.0% from the May 31st total of 1,090,000 shares. Based on an average daily trading volume, of 471,900 shares, the days-to-cover ratio is presently 3.3 days.

EverQuote Stock Down 1.2 %

NASDAQ EVER traded down $0.26 during trading hours on Monday, hitting $20.60. 318,881 shares of the company were exchanged, compared to its average volume of 428,031. EverQuote has a 52 week low of $5.36 and a 52 week high of $25.69. The stock has a 50-day moving average price of $21.79 and a 200 day moving average price of $17.44. The stock has a market cap of $715.23 million, a PE ratio of -14.79 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. EverQuote had a negative return on equity of 31.65% and a negative net margin of 17.37%. The business had revenue of $91.07 million during the quarter, compared to analyst estimates of $80.36 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that EverQuote will post 0.05 earnings per share for the current year.

Insider Activity

In related news, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $21.84, for a total value of $43,680.00. Following the transaction, the director now directly owns 34,515 shares of the company’s stock, valued at approximately $753,807.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John L. Shields sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $21.84, for a total value of $43,680.00. Following the transaction, the director now directly owns 34,515 shares of the company’s stock, valued at approximately $753,807.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Ventures Lllp Link sold 2,573 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $20.48, for a total value of $52,695.04. Following the completion of the transaction, the insider now directly owns 1,562,990 shares in the company, valued at $32,010,035.20. The disclosure for this sale can be found here. Insiders have sold 154,396 shares of company stock valued at $3,243,225 in the last ninety days. 29.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EVER. Envestnet Asset Management Inc. boosted its position in shares of EverQuote by 193.7% during the third quarter. Envestnet Asset Management Inc. now owns 716,865 shares of the company’s stock valued at $5,183,000 after buying an additional 472,821 shares during the period. Earnest Partners LLC boosted its position in shares of EverQuote by 44.2% during the third quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock valued at $13,980,000 after buying an additional 592,262 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of EverQuote in the fourth quarter valued at approximately $40,000. Asset Management One Co. Ltd. purchased a new stake in shares of EverQuote in the fourth quarter valued at approximately $66,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of EverQuote in the fourth quarter valued at approximately $264,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Analysts Set New Price Targets

EVER has been the topic of several research reports. Craig Hallum lifted their target price on EverQuote from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Canaccord Genuity Group lifted their target price on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. B. Riley boosted their price objective on EverQuote from $24.00 to $29.50 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC boosted their price objective on EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.25.

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.