EverQuote, Inc. (NASDAQ:EVER) sees sharp drop in short-term interest
EverQuote, Inc. (NASDAQ:EVER – Get Rating) was the beneficiary of a sharp drop in short-term interest rates in May. As of May 15, there was short interest totaling 1,130,000 shares, down 29.4% from the total of 1,600,000 shares as of April 30. About 6.4% of the stock’s shares are sold short. Based on an average daily volume of 306,500 shares, the short interest rate is currently 3.7 days.
NASDAQ:EVER opened at $9.66 on Friday. EverQuote has a one-year low of $8.87 and a one-year high of $35.79. The company has a market capitalization of $289.94 million, a P/E ratio of -13.23 and a beta of 1.18. The company has a 50-day simple moving average of $13.40 and a 200-day simple moving average of $14.48.
In other EverQuote news, insider Tomas Revesz, Jr. sold 7,119 shares of EverQuote in a trade on Tuesday, March 29. The shares were sold at an average price of $15.29, for a total value of $108,849.51. Following the sale, the insider now directly owns 460,409 shares of the company, valued at approximately $7,039,653.61. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, CTO David Brainard sold 5,157 shares of EverQuote in a trade on Tuesday, May 24. The shares were sold at an average price of $9.29, for a total transaction of $47,908.53. Following the completion of the sale, the chief technology officer now owns 128,653 shares of the company, valued at $1,195,186.37. The disclosure of this sale can be found here. Insiders sold a total of 13,914 shares of the company worth $179,413 in the past 90 days. Insiders hold 45.70% of the shares of the company.
Major investors have recently been buying and selling shares of the company. Jacobi Capital Management LLC purchased a new position in shares of EverQuote during Q3 for a value of approximately $38,000. Point72 Hong Kong Ltd increased its stake in EverQuote shares by 1,180.7% during the 3rd quarter. Point72 Hong Kong Ltd now owns 2,318 shares in the company worth $43,000 after acquiring 2,137 additional shares in the last quarter. Advisor Group Holdings Inc. increased its stake in EverQuote shares by 398.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,992 shares of the company worth $48,000 after acquiring 2,392 additional shares in the last quarter. Royal Bank of Canada increased its stake in EverQuote shares by 21.3% during the 2nd quarter. Royal Bank of Canada now owns 3,445 shares of the company worth $112,000 after acquiring 604 more shares last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in EverQuote shares by 460.8% during the third quarter. BNP Paribas Arbitrage SA now owns 3,729 shares in the company worth $69,000 after acquiring an additional 3,064 shares last quarter.
A number of brokerages have commented on EVER. William Blair downgraded EverQuote shares from an “outperforming” rating to a “market performing” rating in a Tuesday, May 3 research note. Raymond James downgraded EverQuote shares from an “outperforming” rating to a “market performing” rating in a Tuesday, May 3 research note. Needham & Company LLC lowered its price target on EverQuote shares from $19.00 to $16.00 in a Tuesday, May 3 research note. Canaccord Genuity Group lowered its price target on EverQuote shares from $25.00 to $22.00 and set a “buy” rating for the company in a Tuesday, May 3 research note. Finally, Oppenheimer lowered his price target on EverQuote shares from $20.00 to $15.00 in a Tuesday, May 3 research note. One analyst gave the stock a sell rating, three gave the company a hold rating and six gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.44.
EverQuote Company Profile (Get a rating)
EverQuote, Inc operates an online marketplace for insurance purchases in the United States. The Company’s online marketplace offers consumers the ability to purchase auto, home and renters, life and health insurance. It 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.
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