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

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

EverQuote Trading Up 5.9 %

Shares of NASDAQ EVER traded up $1.57 during mid-day trading on Wednesday, reaching $28.03. The company had a trading volume of 450,570 shares, compared to its average volume of 506,633. EverQuote has a 1-year low of $16.63 and a 1-year high of $28.27. The company has a 50-day moving average price of $22.02 and a two-hundred day moving average price of $20.46. The stock has a market cap of $1.00 billion, a PE ratio of 82.41 and a beta of 1.01.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The business had revenue of $147.46 million during the quarter, compared to analyst estimates of $133.83 million. On average, research analysts expect that EverQuote will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at EverQuote

In other EverQuote news, CAO Jon Ayotte sold 7,647 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $25.72, for a total value of $196,680.84. Following the completion of the transaction, the chief accounting officer now owns 58,045 shares of the company’s stock, valued at $1,492,917.40. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO David Brainard sold 3,675 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.52, for a total value of $71,736.00. Following the transaction, the chief technology officer now directly owns 108,244 shares of the company’s stock, valued at approximately $2,112,922.88. This represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,863 shares of company stock worth $1,204,605. Insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of EverQuote by 11.8% in the 4th quarter. California State Teachers Retirement System now owns 24,781 shares of the company’s stock valued at $495,000 after purchasing an additional 2,624 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of EverQuote by 65.3% in the 4th quarter. Mackenzie Financial Corp now owns 104,303 shares of the company’s stock valued at $2,085,000 after acquiring an additional 41,222 shares during the last quarter. Warm Springs Advisors Inc. bought a new position in EverQuote during the 4th quarter worth approximately $1,499,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in EverQuote by 34.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,500 shares of the company’s stock valued at $950,000 after purchasing an additional 12,118 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of EverQuote by 47.2% in the 4th quarter. Squarepoint Ops LLC now owns 371,595 shares of the company’s stock valued at $7,428,000 after buying an additional 119,189 shares during the period. 91.54% of the stock is owned by institutional investors and hedge funds.

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.