David B. Blundin, a director and significant shareholder of EverQuote , Inc. (NASDAQ:EVER), has sold a substantial portion of his holdings in the company. According to recent filings with the Securities and Exchange Commission, Blundin disposed of EverQuote shares valued at over $3.8 million.
The transactions occurred on March 13 and 14, with shares sold at prices ranging from $18.60 to $19.39. The sales were executed pursuant to a pre-arranged Rule 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on non-public information.
Blundin's transactions involved several blocks of Class A Common Stock. One set of sales on March 13 included 26,319 shares at an average price of $18.91 and another 8,763 shares at an average price of $19.34. On the same day, additional sales of 29,631 shares at $18.91 and 9,866 shares at $19.34 were made through Recognition Capital, LLC, where Blundin serves as the sole manager.
Further transactions on March 13 involved the sale of 3,078 shares at $18.91 and 1,023 shares at $19.34, held indirectly by Link Ventures LLLP, with Blundin as the managing member of its general partner. The largest single transaction reported was the sale of 87,737 shares at an average price of $19.39, also held by Link Ventures LLLP.
The following day, Blundin continued to sell shares indirectly through Link Ventures LLLP, disposing of 33,560 shares at an average price of $18.60.
Post-transaction, Blundin still holds a significant number of shares in EverQuote, both directly and indirectly through entities like Recognition Capital, LLC and Link Ventures LLLP. The direct and indirect holdings reflect Blundin's ongoing interest in the company's performance and future.
Investors often monitor such filings to gain insight into the actions of company insiders, as these can sometimes signal confidence or concern regarding the firm's prospects. EverQuote, Inc., based in Cambridge, Massachusetts, operates within the technology sector, specializing in services related to computer programming and data processing.
InvestingPro Insights
As investors digest the news of David B. Blundin's recent sale of EverQuote shares, it's important to look at the company's financial health and market performance for a broader context. According to InvestingPro data, EverQuote boasts a robust gross profit margin of 92.2% for the last twelve months as of Q4 2023. This impressive figure underscores the company's ability to manage its cost of goods sold effectively, which can be a positive indicator for potential investors.
Despite the recent insider selling, it's noteworthy that EverQuote has demonstrated a significant return over the last week, with a 12.38% price total return, and a strong return over the last three months, at 54.85%. This suggests that the market is responding positively to the company's performance or potential, which may counterbalance concerns about insider sales.
While EverQuote's market cap stands at $600.73 million, it's important to note that the company is not currently profitable, with a negative P/E ratio of -11.44 for the last twelve months as of Q4 2023. This could be a point of consideration for investors who prioritize earnings growth and profitability in their investment decisions.
For those interested in further analysis, InvestingPro offers additional insights, including the fact that EverQuote holds more cash than debt on its balance sheet and that analysts predict the company will be profitable this year. These InvestingPro Tips could provide valuable context for investors evaluating the company's future prospects. To access more tips and in-depth data, investors can visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 11 additional InvestingPro Tips available, offering a comprehensive view of EverQuote's financial landscape.
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