Short Interest in EverQuote, Inc. (NASDAQ:EVER) Drops By 21.0%

EverQuote, Inc. (NASDAQ:EVER - Get Free Report) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 1,430,000 shares, a decrease of 21.0% from the February 13th total of 1,810,000 shares. Currently, 5.8% of the shares of the stock are short sold. Based on an average trading volume of 520,200 shares, the days-to-cover ratio is currently 2.7 days.

Insider Activity

In related news, Director John L. Shields sold 2,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $20.00, for a total transaction of $40,000.00. Following the transaction, the director now directly owns 28,515 shares in the company, valued at approximately $570,300. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO David Brainard sold 3,675 shares of the 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 owns 108,244 shares in the company, valued at $2,112,922.88. This trade represents a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,863 shares of company stock worth $1,204,605 over the last three months. 29.79% of the stock is currently owned by corporate insiders.

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Institutional Investors Weigh In On EverQuote

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in EverQuote by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,016,712 shares of the company's stock valued at $40,314,000 after purchasing an additional 24,347 shares in the last quarter. Toronado Partners LLC grew its position in shares of EverQuote by 59.7% in the 4th quarter. Toronado Partners LLC now owns 718,774 shares of the company's stock worth $14,368,000 after acquiring an additional 268,670 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of EverQuote by 32.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 654,152 shares of the company's stock worth $13,076,000 after acquiring an additional 161,426 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of EverQuote in the 4th quarter worth approximately $12,311,000. Finally, Geode Capital Management LLC grew its position in shares of EverQuote by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 600,365 shares of the company's stock worth $12,004,000 after acquiring an additional 5,210 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company's stock.

EverQuote Stock Performance

Shares of EVER stock traded down $1.59 during trading hours on Tuesday, reaching $26.46. The company had a trading volume of 1,074,524 shares, compared to its average volume of 506,791. EverQuote has a twelve month low of $16.63 and a twelve month high of $28.27. The company has a market capitalization of $945.26 million, a P/E ratio of 77.82 and a beta of 1.01. The stock's fifty day simple moving average is $22.02 and its 200 day simple moving average is $20.46.

EverQuote (NASDAQ:EVER - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.18. EverQuote had a return on equity of 13.94% and a net margin of 3.31%. The firm had revenue of $147.46 million during the quarter, compared to analyst estimates of $133.83 million. As a group, equities analysts expect that EverQuote will post 0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

EVER has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on EverQuote from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Needham & Company LLC increased their target price on EverQuote from $30.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Raymond James upgraded EverQuote from an "outperform" rating to a "strong-buy" rating and set a $35.00 price objective on the stock in a report on Thursday, December 26th. Finally, Canaccord Genuity Group cut their price objective on EverQuote from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $32.33.

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.