David B. Blundin, a director and major shareholder of EverQuote , Inc. (NASDAQ:EVER), recently sold shares of the company's stock totaling approximately $42,000. The transactions were executed on April 12, 2024, with the sale prices ranging from $20.00 to $20.03 per share.
Blundin's sales were conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which he had adopted on September 5, 2023. Such plans allow company insiders to sell shares over a predetermined period of time, to avoid concerns about transactions based on access to non-public information.
The sales involved three separate transactions of Class A Common Stock. In the first transaction, 936 shares were sold, followed by a sale of 1,055 shares, and finally, 109 shares were sold. Each transaction was priced at a weighted average of $20.00 per share, resulting in the total proceeds of $42,000.
Following the sales, Blundin's direct holdings in EverQuote decreased, but he still maintains a substantial indirect ownership through entities such as Recognition Capital, LLC, and Link Ventures, LLLP, as well as through holdings by his son and the Cogo Fund 2020, LLC. Blundin is associated with these entities in various capacities, including as the sole manager or controlling member.
Investors often monitor insider transactions as they can provide insights into an insider’s view of the company’s value. However, it's important to note that these transactions do not necessarily indicate a lack of confidence in the company's future by the insider; they can be motivated by various personal financial management reasons.
EverQuote, Inc., based in Cambridge, Massachusetts, operates within the tech sector, specializing in services related to computer programming, data processing, and other related areas. The company's stock is publicly traded on the NASDAQ under the ticker symbol EVER.
InvestingPro Insights
As EverQuote's director David B. Blundin divests a portion of his holdings, the market is keen to understand the financial health and potential of the company. Based on real-time data from InvestingPro, EverQuote's market capitalization stands at $656.53 million, reflecting the company's size and market value. Despite recent insider sales, the company exhibits a strong gross profit margin of 92.2% as of the last twelve months ending Q4 2023, highlighting its efficiency in controlling the costs associated with its revenue.
InvestingPro Tips suggest that EverQuote holds more cash than debt on its balance sheet, which could be a sign of financial stability. Additionally, the company has seen a strong return over the last year, with a 124.36% price total return, and analysts predict that the company will be profitable this year. These are promising indicators for potential investors and may counterbalance concerns raised by insider sales.
Investors looking for a deeper dive into EverQuote's performance and future outlook can find additional insights on InvestingPro. There are 11 more InvestingPro Tips available, which can help to paint a comprehensive picture of the company's financial health and market position. To access these tips and take advantage of real-time metrics, interested parties can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/EVER.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.