EverQuote , Inc.'s (NASDAQ:EVER) Chief Financial Officer, Joseph Sanborn, recently sold a total of 664 shares of the company's Class A Common Stock, generating approximately $12,436 in proceeds. The transactions were carried out on April 2, 2024, with the shares sold at a weighted average price of $18.73.
The sales were made in accordance with a pre-established Rule 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. Notably, these transactions were not discretionary; they were executed to meet tax withholding obligations associated with the vesting of restricted stock units on April 1, 2024.
The weighted average selling price of $18.73 was part of a range, with individual transactions occurring at prices from $18.68 to $18.73. Following the sales, Sanborn's direct ownership in EverQuote stood at 229,037 shares.
Investors and followers of EverQuote will be able to request additional information about the distribution of sales across the different prices if needed, as Sanborn has committed to providing full details upon request to EverQuote, its security holders, or the SEC staff.
EverQuote, based in Cambridge, Massachusetts, operates within the computer programming and data processing sector, providing an online marketplace for insurance shopping. The company's stock is traded on the NASDAQ under the ticker symbol EVER.
InvestingPro Insights
EverQuote, Inc. (NASDAQ:EVER) has recently been in the spotlight due to insider stock sales by its CFO, Joseph Sanborn. For investors closely monitoring the company's financial health and market performance, several key metrics from InvestingPro provide a deeper understanding of EverQuote's current position.
As of the latest data, EverQuote boasts a strong gross profit margin of 92.2%, indicating the company's efficiency in managing its cost of goods sold and maintaining profitability on its services. This impressive margin is a critical aspect of the company's financial fundamentals, suggesting a robust underlying business model.
The market seems to have responded positively to EverQuote's performance and potential, with the stock achieving a remarkable 159.54% price total return over the last six months, reflecting investor confidence and market momentum. Additionally, the stock's 1 Month Price Total Return stands at 22.24%, further highlighting its recent growth trajectory.
Despite not being profitable over the last twelve months, analysts are optimistic, as they predict EverQuote will turn a profit this year. This anticipation of future profitability could be a driving factor behind the company's recent stock price appreciation.
For those looking to delve deeper into EverQuote's financials and market prospects, InvestingPro offers even more insights. There are 11 additional InvestingPro Tips available for EverQuote, which can be accessed at Investing.com/pro/EVER. For a limited time, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to comprehensive analysis tools and real-time data to guide your investment decisions.
InvestingPro Data for EverQuote also includes a Market Cap of $642.83M USD, which, combined with the company's substantial gross profit, suggests a strong position within the competitive online insurance marketplace. The company's Price / Book multiple stands at 7.95, indicating a premium that investors are willing to pay for EverQuote's book value, possibly due to the company's growth prospects and strong recent returns.
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