Short Interest in EverQuote, Inc. (NASDAQ:EVER) Declines By 5.9%

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,770,000 shares, a decline of 5.9% from the October 31st total of 1,880,000 shares. Based on an average daily volume of 496,500 shares, the days-to-cover ratio is currently 3.6 days.

EverQuote Stock Performance

Shares of NASDAQ EVER traded down $0.17 during trading on Tuesday, reaching $19.29. The stock had a trading volume of 44,090 shares, compared to its average volume of 471,469. The business’s 50-day moving average price is $19.35 and its 200-day moving average price is $21.50. EverQuote has a fifty-two week low of $9.86 and a fifty-two week high of $28.09. The company has a market cap of $681.90 million, a P/E ratio of 57.24 and a beta of 0.96.

EverQuote (NASDAQ:EVER) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $144.53 million for the quarter, compared to analyst estimates of $140.30 million. EverQuote had a net margin of 3.31% and a return on equity of 13.94%. The business’s revenue for the quarter was up 162.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. Analysts forecast that EverQuote will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other EverQuote news, Director George R. Neble sold 2,500 shares of the company’s 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 completion of the sale, the director now directly owns 54,970 shares in the company, valued at $1,067,517.40. This represents a 4.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David Brainard sold 1,641 shares of EverQuote stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.22, for a total value of $33,181.02. Following the transaction, the chief technology officer now owns 155,491 shares in the company, valued at approximately $3,144,028.02. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,716 shares of company stock worth $188,810. 29.79% of the stock is owned by corporate insiders.

Institutional Trading of EverQuote

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of EverQuote by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,157,714 shares of the company’s stock worth $21,487,000 after buying an additional 30,577 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of EverQuote by 636.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,729 shares of the company’s stock valued at $2,209,000 after purchasing an additional 90,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of EverQuote in the 2nd quarter valued at $782,000. Emerald Advisers LLC raised its holdings in shares of EverQuote by 165.8% in the 3rd quarter. Emerald Advisers LLC now owns 640,032 shares of the company’s stock valued at $13,498,000 after purchasing an additional 399,257 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of EverQuote during the 2nd quarter worth $842,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EVER shares. Needham & Company LLC increased their price target on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. B. Riley cut their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Craig Hallum upped their price target on EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut their price objective on EverQuote from $34.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $28.50.

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.