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

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a significant 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 short-interest ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EVER shares. Needham & Company LLC increased their price target on shares of EverQuote from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Craig Hallum upped their price objective on EverQuote from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. B. Riley raised their target price on EverQuote from $24.00 to $29.50 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Canaccord Genuity Group upped their price target on shares of EverQuote from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $26.25.

EverQuote Stock Up 1.2 %

NASDAQ EVER traded up $0.24 during trading on Monday, hitting $21.10. 630,581 shares of the stock traded hands, compared to its average volume of 430,525. EverQuote has a 12-month low of $5.36 and a 12-month high of $25.69. The firm has a 50-day simple moving average of $21.79 and a 200-day simple moving average of $17.44. The company has a market capitalization of $732.59 million, a P/E 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 net margin of 17.37% and a negative return on equity of 31.65%. The firm had revenue of $91.07 million for the quarter, compared to analysts’ expectations of $80.36 million. During the same period in the prior year, the company earned ($0.08) EPS. The business’s revenue was down 16.6% compared to the same quarter last year. As a group, research analysts predict that EverQuote will post 0.05 EPS for the current fiscal year.

Insider Activity

In related news, CTO David Brainard sold 4,327 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $24.95, for a total value of $107,958.65. Following the completion of the sale, the chief technology officer now owns 175,142 shares of the company’s stock, valued at $4,369,792.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO David Brainard sold 4,327 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $24.95, for a total value of $107,958.65. Following the completion of the transaction, the chief technology officer now directly owns 175,142 shares of the company’s stock, valued at $4,369,792.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David B. Blundin sold 22,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $20.48, for a total value of $450,928.64. Following the completion of the transaction, the director now owns 593,492 shares of the company’s stock, valued at approximately $12,154,716.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,396 shares of company stock valued at $3,243,225. Company insiders own 29.79% of the company’s stock.

Hedge Funds Weigh In On EverQuote

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Earnest Partners LLC raised its position in EverQuote by 44.2% in the 3rd quarter. Earnest Partners LLC now owns 1,933,597 shares of the company’s stock worth $13,980,000 after purchasing an additional 592,262 shares during the period. Envestnet Asset Management Inc. grew its stake in EverQuote by 193.7% in the third quarter. Envestnet Asset Management Inc. now owns 716,865 shares of the company’s stock valued at $5,183,000 after purchasing an additional 472,821 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of EverQuote by 25.6% during the 4th quarter. New York State Common Retirement Fund now owns 53,026 shares of the company’s stock worth $649,000 after acquiring an additional 10,813 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of EverQuote during the fourth quarter worth $66,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of EverQuote in the 1st quarter worth $672,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Company Profile

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.