CAMBRIDGE, MA—Julia Brncic, the General Counsel of EverQuote , Inc. (NASDAQ:EVER), has recently sold a portion of her holdings in the company. According to a recent SEC filing, Brncic sold 740 shares of Class A common stock on November 18, 2024, at a price of $17.89 per share. The total value of the transaction amounted to $13,238.
Following this sale, Brncic retains ownership of 109,079 shares in EverQuote. The transaction was conducted under a Rule 10b5-1 trading plan, which was put in place earlier this year on March 12, 2024.
In other recent news, EverQuote has reported strong Q3 2024 financial results, surpassing previous guidance. Total (EPA:TTEF) revenues reached $144.5 million, a 163% increase year-over-year, driven by a 200% rise in auto insurance revenue and a 30% increase in home insurance revenue. This success is attributed to the company's transition to new technology platforms and the rebound of the auto insurance industry.
EverQuote's Q3 performance led to Needham maintaining its Buy rating, albeit with a reduced price target of $30, reflecting current market valuations. Canaccord Genuity also maintained a Buy rating on EverQuote's stock, setting a price target of $35.00.
For Q4, EverQuote projects over 100% growth, indicating a continued recovery. The company's management remains optimistic about long-term growth despite potential impacts of new Federal Communications Commission ( FCC (BME:FCC)) regulations. These recent developments underscore EverQuote's successful collaborations with large carriers, leading to data-driven pricing changes and new service offerings.
InvestingPro Insights
While Julia Brncic's recent sale of EverQuote shares may raise questions, it's important to consider the broader financial picture of the company. According to InvestingPro data, EverQuote's market capitalization stands at $668.85 million, reflecting its position in the insurance technology sector.
The company has shown impressive growth, with revenue increasing by 27.43% over the last twelve months to $408.44 million. This aligns with an InvestingPro Tip indicating that analysts anticipate sales growth in the current year. Moreover, EverQuote boasts a remarkable gross profit margin of 94.98%, which supports another InvestingPro Tip highlighting the company's impressive gross profit margins.
Despite the recent insider sale, EverQuote's stock has demonstrated strong performance, with a one-year price total return of 120.02%. This substantial return may be attributed to the company's growth prospects and improving financial metrics.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for EverQuote, providing a deeper understanding of the company's financial health and market position. These insights can be particularly valuable when assessing the significance of insider transactions in the context of the company's overall performance.
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