EverQuote, Inc. (NASDAQ:EVER) Short Interest Up 30.2% in January

EverQuote, Inc. (NASDAQ:EVER) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 3,047,726 shares, a growth of 30.2% from the January 15th total of 2,340,737 shares. Currently, 11.4% of the shares of the company are sold short. Based on an average daily trading volume, of 544,886 shares, the short-interest ratio is presently 5.6 days. Based on an average daily trading volume, of 544,886 shares, the short-interest ratio is presently 5.6 days. Currently, 11.4% of the shares of the company are sold short.

EverQuote Stock Performance

Shares of NASDAQ EVER opened at $14.39 on Wednesday. The firm has a fifty day moving average of $23.55 and a 200 day moving average of $23.57. The firm has a market cap of $517.46 million, a PE ratio of 10.06 and a beta of 0.50. EverQuote has a one year low of $14.08 and a one year high of $30.03.

Insider Activity at EverQuote

In related news, CEO Jayme Mendal sold 14,360 shares of EverQuote stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $24.15, for a total transaction of $346,794.00. Following the completion of the sale, the chief executive officer owned 406,404 shares of the company’s stock, valued at $9,814,656.60. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Shields sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $25.73, for a total value of $51,460.00. Following the completion of the sale, the director owned 25,219 shares in the company, valued at approximately $648,884.87. This represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,619 shares of company stock valued at $1,472,820 over the last three months. 25.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Linden Thomas Advisory Services LLC boosted its holdings in EverQuote by 5.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 8,684 shares of the company’s stock valued at $210,000 after purchasing an additional 453 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of EverQuote by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,796 shares of the company’s stock valued at $68,000 after buying an additional 573 shares during the period. Versant Capital Management Inc lifted its holdings in EverQuote by 108.9% in the third quarter. Versant Capital Management Inc now owns 1,153 shares of the company’s stock valued at $26,000 after acquiring an additional 601 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in EverQuote by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after acquiring an additional 624 shares during the period. Finally, Cetera Investment Advisers grew its position in EverQuote by 4.3% in the second quarter. Cetera Investment Advisers now owns 16,204 shares of the company’s stock worth $392,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 91.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on EVER shares. Zacks Research raised EverQuote from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Needham & Company LLC upped their price objective on EverQuote from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen lowered shares of EverQuote from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Raymond James Financial reiterated an “outperform” rating and issued a $18.00 target price on shares of EverQuote in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of EverQuote from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.00.

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.