EverQuote, Inc. (NASDAQ:EVER) Sees Large Decrease in Short Interest

EverQuote, Inc. (NASDAQ:EVER) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,010,000 shares, a drop of 9.0% from the January 15th total of 2,210,000 shares. Based on an average daily trading volume, of 464,900 shares, the short-interest ratio is currently 4.3 days.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. B. Riley reduced their price target on shares of EverQuote from $36.50 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of EverQuote from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, 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 report on Thursday, December 26th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $31.67.

EverQuote Stock Performance

EVER traded up $0.13 on Tuesday, reaching $21.82. The company had a trading volume of 348,781 shares, compared to its average volume of 410,641. EverQuote has a fifty-two week low of $14.28 and a fifty-two week high of $28.09. The stock has a market cap of $771.34 million, a P/E ratio of 64.18 and a beta of 0.96. The company’s fifty day moving average is $19.41 and its 200 day moving average is $20.18.

Insider Activity at EverQuote

In other news, CTO David Brainard sold 3,675 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.52, for a total transaction of $71,736.00. Following the completion of the sale, the chief technology officer now owns 108,244 shares of the company’s stock, valued at approximately $2,112,922.88. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Shields sold 2,000 shares of EverQuote stock in a transaction on Monday, January 27th. The stock was sold at an average price of $20.00, for a total transaction of $40,000.00. Following the sale, the director now directly owns 28,515 shares of the company’s stock, valued at $570,300. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,955 shares of company stock worth $995,711. Company insiders own 29.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVER. The Manufacturers Life Insurance Company acquired a new position in EverQuote in the 2nd quarter valued at about $202,000. CWM LLC grew its stake in EverQuote by 143.0% in the 3rd quarter. CWM LLC now owns 4,522 shares of the company’s stock valued at $95,000 after buying an additional 2,661 shares during the last quarter. nVerses Capital LLC grew its stake in EverQuote by 41.2% in the 3rd quarter. nVerses Capital LLC now owns 2,400 shares of the company’s stock valued at $51,000 after buying an additional 700 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in EverQuote by 572.1% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 504,081 shares of the company’s stock valued at $10,631,000 after purchasing an additional 429,084 shares during the period. Finally, Emerald Advisers LLC boosted its holdings in 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 during the period. Institutional investors and hedge funds 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.