Investors tracking insider transactions at EverQuote , Inc. (NASDAQ:EVER) may have noticed a recent sale by Link Ventures, LLLP, a significant shareholder in the company. According to the latest filings, Link Ventures, LLLP has sold a total of 130 shares of EverQuote's Class A Common Stock at a weighted average price of $20.08 per share, amounting to over $2,600 in transaction value.
The sale took place on April 4, 2024, with the shares being sold in multiple transactions ranging from $20.00 to $20.15 each. Following this activity, Link Ventures, LLLP still holds a substantial number of shares, with their ownership standing at 1,565,672 shares of Class A Common Stock.
It's noteworthy that the sales were conducted in accordance with a Rule 10b5-1 trading plan, which was adopted by the reporting person on September 5, 2023. Rule 10b5-1 allows major holders to sell a predetermined number of shares at a predetermined time, providing an affirmative defense against accusations of trading on insider information.
Link Ventures, LLLP's transactions are particularly significant due to their status as a ten percent owner of the company, which implies a high level of confidence and interest in EverQuote's performance and prospects. Additionally, Link Management, LLC, which is the general partner of Link Ventures, LLLP and holds a 1% general partner interest, is also involved in the filing.
Investors and potential investors in EverQuote, Inc. often monitor such insider transactions as they can provide insights into the sentiment of those closely associated with the company. However, it's important to consider a broader range of factors when evaluating the implications of insider trading activities.
EverQuote, Inc., based in Cambridge, Massachusetts, operates within the computer programming and data processing industry, providing an online marketplace for insurance shopping. The company's stock is publicly traded on NASDAQ under the ticker symbol EVER.
InvestingPro Insights
Investors keeping tabs on EverQuote, Inc. (NASDAQ:EVER) have more than just insider transactions to consider. According to data from InvestingPro, EverQuote is currently trading near its 52-week high, at 93.02% of the peak, with a previous close price of $18.92. This aligns with the recent sale by Link Ventures, LLLP, suggesting that significant shareholders might be capitalizing on the stock's strong performance.
The company's gross profit margins are particularly impressive, standing at 92.2% for the last twelve months as of Q4 2023, a testament to the company's efficient operations and cost management. This is a key metric for investors, as it indicates the company's ability to retain a significant portion of revenue after accounting for the cost of goods sold.
Despite not being profitable over the last twelve months, with a negative operating income margin of -9.92%, EverQuote's liquid assets exceed its short-term obligations, providing financial flexibility. This financial health indicator, combined with the company's strong cash position, which surpasses its debt, could offer some reassurance to investors concerned about the company's near-term liquidity and ability to fund operations.
For those interested in a deeper dive into EverQuote's financials and performance, there are additional InvestingPro Tips available. For instance, analysts predict that the company will turn profitable this year, and with a strong return over the last three months of 72.63%, the stock's momentum is noteworthy. To explore further and gain access to exclusive insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/EVER. There are 11 additional InvestingPro Tips that could provide valuable context and guidance for your investment decisions.
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