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

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

EverQuote Price Performance

Shares of EverQuote stock traded down $0.17 during trading hours on Tuesday, hitting $19.29. The company’s stock had a trading volume of 44,090 shares, compared to its average volume of 471,469. EverQuote has a 12 month low of $9.86 and a 12 month high of $28.09. The stock has a 50 day moving average of $19.35 and a 200 day moving average of $21.50. The company has a market capitalization of $681.90 million, a PE ratio of 57.24 and a beta of 0.96.

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

Insider Activity

In other 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 transaction of $48,550.00. Following the transaction, the director now owns 54,970 shares of the company’s stock, valued at $1,067,517.40. This represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David Brainard sold 1,641 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.22, for a total value of $33,181.02. Following the completion of the transaction, the chief technology officer now directly owns 155,491 shares in the company, valued at $3,144,028.02. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,716 shares of company stock valued at $188,810 over the last 90 days. 29.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of EverQuote by 116.6% during the third quarter. Franklin Resources Inc. now owns 58,781 shares of the company’s stock worth $1,147,000 after buying an additional 31,644 shares in the last quarter. Barclays PLC grew its holdings in shares of EverQuote by 331.2% during the third quarter. Barclays PLC now owns 50,983 shares of the company’s stock worth $1,076,000 after buying an additional 39,160 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of EverQuote by 10.4% during the third quarter. Geode Capital Management LLC now owns 595,155 shares of the company’s stock worth $12,554,000 after buying an additional 56,114 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of EverQuote during the third quarter worth about $757,000. Finally, MML Investors Services LLC bought a new position in shares of EverQuote during the third quarter worth about $290,000. 91.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on EVER. B. Riley cut their target price on EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on EverQuote from $34.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC increased their target price 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 increased their target price on EverQuote from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.