David B. Blundin, a director and significant shareholder of EverQuote , Inc. (NASDAQ:EVER), has sold a portion of his holdings in the company, according to a recent SEC filing. The transactions, which took place on April 4, 2024, involved the sale of EverQuote shares at an average price of $20.08, totaling approximately $50,199.
The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on non-public information. The shares were sold in multiple transactions with prices ranging from $20.00 to $20.15 per share.
Blundin's transactions included the sale of 1115 shares directly owned, as well as sales of shares indirectly owned through entities such as Recognition Capital, LLC and Link Ventures, LLLP, where he serves as the sole manager and managing member, respectively. Following these sales, Blundin still retains a significant number of shares in EverQuote, both directly and indirectly.
EverQuote, based in Cambridge, Massachusetts, operates in the technology sector, providing an online marketplace for insurance shopping. As a director and a ten percent owner, Blundin's trading activities are closely watched by investors for signals about the company's financial health and insider confidence.
Investors and security holders of EverQuote can request detailed information from Blundin about the specific number of shares sold at each price within the reported range.
The filing did not indicate any purchases of EverQuote stock by Blundin at this time. The remaining ownership stakes in the company held by Blundin, both directly and through various entities, suggest a continued vested interest in the company's performance.
InvestingPro Insights
Amidst the recent sale of EverQuote shares by director David B. Blundin, investors may be keen to understand the company's current financial standing and market performance. EverQuote, an online insurance marketplace, shows a mixed financial landscape according to recent data.
An InvestingPro Tip worth noting is that EverQuote holds more cash than debt on its balance sheet, which may provide some reassurance about the company's ability to manage its financial obligations and invest in growth opportunities. Additionally, the company boasts impressive gross profit margins, with the last twelve months as of Q4 2023 showing a margin of 92.2%. This indicates that EverQuote has been highly effective at controlling the cost of goods sold relative to its revenue.
Turning to the InvestingPro Data, EverQuote's market capitalization stands at 665.08 million USD, which reflects the market's valuation of the company. Despite not being profitable over the last twelve months, with a negative P/E ratio of -21.35, analysts predict the company will turn profitable this year. This forward-looking optimism is also reflected in the company's stock performance, with a strong return over the last three months of 72.63% and a significant price uptick over the last six months, boasting a 134.74% return.
The company's shares are trading near their 52-week high, at 93.02% of the peak, which could indicate investor confidence or, conversely, a potential reevaluation of the stock's value. EverQuote's Price / Book multiple stands at 8.22, which might suggest that the stock is trading at a premium compared to its book value.
For investors seeking a deeper dive into EverQuote's financials and market performance, additional InvestingPro Tips are available, offering valuable insights into metrics such as liquid assets, analyst predictions, and share price movements. There are 11 additional tips listed in InvestingPro for EverQuote, which can be accessed for those looking to make an informed decision on their investment. To enhance your investing strategy, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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