David B. Blundin, a director and significant shareholder at EverQuote , Inc. (NASDAQ:EVER), has recently sold a substantial number of shares in the company. According to the latest filings, Blundin offloaded 49,683 shares at a weighted average price of $18.09, netting a total of approximately $898,765. The transactions occurred in multiple sales with prices ranging from $18.00 to $18.25 per share.
Blundin, who is associated with Link Ventures LLLP, Recognition Capital, LLC, and Cogo Fund 2020, LLC, holds a diversified portfolio of EverQuote shares through various entities. Post-transaction, Blundin still has a significant stake in the company with 1,565,801 shares held indirectly by Link Ventures LLLP, 617,561 shares held directly, 695,298 shares held indirectly by Recognition Capital, LLC, 100 shares held indirectly in the name of his son, and 393,268 shares held indirectly by Cogo Fund 2020, LLC.
The sale represents a notable change in Blundin's holdings, although he retains a strong position within EverQuote. The nature of these transactions reflects a mix of direct and indirect ownership, with Blundin having a direct or indirect pecuniary interest in the entities listed.
EverQuote, Inc., based in Cambridge, Massachusetts, operates in the technology sector, providing an online marketplace for insurance shopping. The company's platform allows consumers to connect with insurance providers to find rates and options that suit their needs.
Investors and market watchers often look to insider transactions such as these for insights into a company's health and the confidence levels of its top executives and directors. However, it is essential to consider that trading activities by insiders can be influenced by various factors unrelated to a company's performance.
The Securities and Exchange Commission provides full transaction details to the public, and upon request, Blundin has agreed to furnish additional information regarding the specific number of shares sold at each price point within the reported range.
InvestingPro Insights
As EverQuote, Inc. (NASDAQ:EVER) experiences shifts in insider ownership with David B. Blundin's recent sale of shares, investors are keen to understand the financial health and future prospects of the company. To provide a clearer picture, here are some key metrics and insights from InvestingPro that may be relevant:
The company holds a market capitalization of $585.67 million and has been showing a strong return over the last three months, with a 42.96% increase. This uptrend is also reflected in the significant six-month price total return of 159.76%. Such performance is noteworthy for shareholders and potential investors, as it signals robust market confidence in EverQuote's trajectory.
Despite not being profitable over the last twelve months, EverQuote boasts an impressive gross profit margin of 92.2%, indicating that the company is highly efficient in its operations. Furthermore, its liquid assets surpass short-term obligations, suggesting a strong liquidity position that can support the company's ongoing and future initiatives.
On the valuation front, EverQuote is trading at a high Price / Book multiple of 7.24, which could indicate that the market has high expectations for the company's growth or that the stock is overvalued relative to its book value. Investors considering EverQuote should note that analysts predict the company will be profitable this year, which could have a positive impact on the stock's performance.
For those interested in a deeper analysis, InvestingPro offers additional InvestingPro Tips for EverQuote, including a comprehensive look at the company's cash position, debt levels, and potential dividend strategies. To uncover more strategic insights and obtain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, remember to use coupon code PRONEWS24 when you visit InvestingPro.
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