EverQuote, Inc. (NASDAQ:EVER) Short Interest Down 10.5% in October

EverQuote, Inc. (NASDAQ:EVER) saw a significant decline in short interest in 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 trading volume, of 518,700 shares, the days-to-cover ratio is currently 3.6 days.

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 shares were sold at an average price of $22.02, for a total transaction of $69,671.28. Following the sale, the chief technology officer now directly owns 160,986 shares of the company’s stock, valued at approximately $3,544,911.72. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph Sanborn sold 4,800 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $21.54, for a total transaction of $103,392.00. Following the completion of the sale, the chief financial officer now directly owns 207,691 shares in the company, valued at approximately $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 worth $349,244 over the last ninety days. 29.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in shares of EverQuote in the third quarter valued at about $26,000. Quarry LP raised its holdings in EverQuote by 215.5% during the 2nd quarter. Quarry LP now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 985 shares during the last quarter. nVerses Capital LLC bought a new stake in EverQuote during the 2nd quarter worth about $35,000. CWM LLC raised its holdings in EverQuote by 133.2% during 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 during the last quarter. Finally, Quantbot Technologies LP raised its holdings in EverQuote by 115.1% during the 3rd quarter. Quantbot Technologies LP now owns 3,502 shares of the company’s stock worth $74,000 after purchasing an additional 1,874 shares during the last quarter. 91.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EVER. B. Riley lowered their target price on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Craig Hallum raised 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 raised 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, JPMorgan Chase & Co. decreased their target price on shares of EverQuote from $34.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $28.50.

EverQuote Price Performance

Shares of EverQuote stock traded up $0.77 during midday trading on Monday, hitting $18.57. The company had a trading volume of 498,370 shares, compared to its average volume of 474,626. The business’s 50 day simple moving average is $19.85 and its two-hundred day simple moving average is $21.76. The stock has a market cap of $651.44 million, a PE ratio of 54.62 and a beta of 1.06. EverQuote has a 1-year low of $8.18 and a 1-year high of $28.09.

EverQuote (NASDAQ:EVER) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 company earned ($0.40) earnings per share. The business’s revenue was up 162.7% compared to the same quarter last year. On average, sell-side analysts expect that EverQuote will post 0.69 EPS for the current fiscal year.

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.