EverQuote, Inc. (NASDAQ:EVER) Short Interest Up 9.9% in August

EverQuote, Inc. (NASDAQ:EVER) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,100,000 shares, a growth of 9.9% from the August 15th total of 1,910,000 shares. Based on an average daily volume of 541,800 shares, the days-to-cover ratio is currently 3.9 days.

EverQuote Stock Performance

EVER traded down $0.02 during trading on Wednesday, reaching $22.26. The company’s stock had a trading volume of 284,654 shares, compared to its average volume of 459,894. The company has a market capitalization of $772.98 million, a price-to-earnings ratio of -15.79 and a beta of 1.04. The company’s fifty day moving average price is $23.29 and its 200-day moving average price is $21.40. EverQuote has a 52-week low of $6.40 and a 52-week high of $28.09.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. EverQuote had a negative return on equity of 13.24% and a negative net margin of 8.55%. The firm had revenue of $117.14 million for the quarter, compared to analyst estimates of $102.81 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. EverQuote’s quarterly revenue was up 72.3% on a year-over-year basis. Equities analysts predict that EverQuote will post 0.57 earnings per share for the current year.

Insider Activity at EverQuote

In other EverQuote news, Director John L. Shields sold 2,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $21.54, for a total value of $43,080.00. Following the transaction, the director now owns 32,515 shares of the company’s stock, valued at $700,373.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Ventures Lllp Link sold 7,680 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $27.08, for a total value of $207,974.40. Following the sale, the insider now owns 3,510,721 shares of the company’s stock, valued at $95,070,324.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Shields sold 2,000 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $21.54, for a total transaction of $43,080.00. Following the transaction, the director now owns 32,515 shares of the company’s stock, valued at approximately $700,373.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,998 shares of company stock valued at $3,356,708. 29.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its holdings in EverQuote by 389.4% during the second quarter. Point72 Asset Management L.P. now owns 13,703 shares of the company’s stock worth $286,000 after purchasing an additional 10,903 shares during the last quarter. Quarry LP raised its stake in shares of EverQuote by 215.5% during the 2nd quarter. Quarry LP now owns 1,442 shares of the company’s stock worth $30,000 after buying an additional 985 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of EverQuote in the 2nd quarter worth about $782,000. Driehaus Capital Management LLC grew its stake in EverQuote by 9.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,036,361 shares of the company’s stock valued at $42,478,000 after acquiring an additional 169,333 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in EverQuote during the 2nd quarter valued at about $202,000. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC increased their price target on shares of EverQuote from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Craig Hallum boosted their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on EverQuote from $29.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $29.58.

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.