Link Ventures, LLLP, a significant shareholder in EverQuote , Inc. (NASDAQ:EVER), has recently sold shares of the company's stock, as revealed in a new regulatory filing. The transaction involved the sale of 2,573 shares of Class A Common Stock at a weighted average price of $20.48 per share, totaling approximately $52,695.
The sales, conducted on April 17, 2024, were executed under a pre-established Rule 10b5-1 trading plan, which was adopted by Link Ventures on September 5, 2023. This type of trading plan allows company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on non-public information.
According to the filing, the shares were sold in multiple transactions with prices ranging from $20.00 to $20.62. The exact number of shares sold at each price within this range can be provided by Link Ventures upon request from EverQuote, any of its security holders, or the SEC staff.
Following the sale, Link Ventures' ownership in EverQuote stands at 1,562,990 shares. The transaction was jointly filed by Link Ventures, LLLP, and Link Management, LLC, with Link Management being the general partner of Link Ventures and holding a 1% general partner interest.
EverQuote, based in Cambridge, Massachusetts, operates within the technology sector, specializing in services related to computer programming, data processing, and other information services. The company's stock is traded on the NASDAQ under the ticker symbol EVER.
Investors and market watchers often monitor insider transactions as they can provide valuable insights into a company's financial health and executive confidence. The sale by Link Ventures may be of interest to those following EverQuote's stock performance and the activities of significant shareholders.
InvestingPro Insights
EverQuote, Inc. (NASDAQ:EVER) has been a point of interest for investors, particularly following recent insider transactions. According to InvestingPro data, EverQuote holds a market capitalization of $629.48 million USD, which provides a perspective on the company's size relative to its peers. Despite a challenging revenue growth trajectory, with a -28.75% change over the last twelve months as of Q4 2023, the company boasts an impressive gross profit margin of 92.2% for the same period. This indicates that while the top-line revenue is under pressure, EverQuote is maintaining a strong control over its cost of goods sold, allowing for a substantial portion of revenue to be retained as gross profit.
InvestingPro Tips highlight several key aspects of EverQuote's financial health and stock performance. The company is noted for holding more cash than debt on its balance sheet, which is a positive sign of financial stability. Additionally, analysts predict that EverQuote will turn profitable this year, which could be a pivotal moment for the company. On the stock performance front, EverQuote has experienced a strong return over the last three months, with a price total return of 65.03%. However, it's important to note that the stock has taken a significant hit over the last week, with a -9.26% price total return, which may reflect market reactions to insider sales or other factors.
For investors seeking a deeper dive into EverQuote's financials and stock performance, InvestingPro offers additional insights. Currently, there are 11 more InvestingPro Tips available for EverQuote, which can be accessed at https://www.investing.com/pro/EVER. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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