In a recent transaction, David Brainard, the Chief Technology Officer of EverQuote , Inc. (NASDAQ:EVER), sold 14,227 shares of the company's Class A Common Stock. The sale, which took place on March 15, 2024, amounted to a total of $253,525.
According to the details provided, the shares were sold at a weighted average price of $17.82. However, the transactions occurred at various prices ranging from $17.50 to $18.06. This indicates that the executive took advantage of different market conditions to execute the sales.
Following the transaction, Brainard's holdings in EverQuote decreased, but he still retains a significant number of shares, with 188,604 remaining in his possession. The sale was conducted under a Rule 10b5-1 trading plan, which Brainard had adopted on December 15, 2023. Such plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing a defense against allegations of insider trading.
EverQuote, based in Cambridge, Massachusetts, operates within the technology sector, providing an online marketplace for insurance shopping. As with any insider transaction, this sale provides investors with insight into the actions of the company's top executives, which can be a valuable piece of information when making investment decisions.
Investors and stakeholders can request additional details about the sales, including the specific number of shares sold at each price point within the reported range, if needed.
InvestingPro Insights
EverQuote, Inc. (NASDAQ:EVER), while navigating the dynamic tech sector landscape, has caught the attention of investors with some notable financial metrics and market performance. Here are a few insights based on the latest data from InvestingPro that could be valuable in assessing the company's current standing:
InvestingPro Data indicates that EverQuote boasts an impressive gross profit margin of 92.2% for the last twelve months as of Q4 2023, reflecting the company's ability to manage its cost of sales effectively. Despite a challenging revenue growth rate, which saw a decline of 28.75% in the same period, the company maintains a strong market capitalization of $587.72 million USD. These figures are particularly interesting to investors considering the recent insider transactions.
Moreover, two InvestingPro Tips highlight the company's financial health and market performance. EverQuote holds more cash than debt on its balance sheet, suggesting a solid liquidity position that could enable the company to navigate market uncertainties or invest in growth opportunities. Additionally, the company's liquid assets exceed its short-term obligations, further underscoring its financial stability.
It's worth noting that while EverQuote has not been profitable over the last twelve months, analysts predict the company will be profitable this year. This forecast could signal a turning point for the firm and is a key factor for potential investors to consider.
For those looking for more in-depth analysis, there are additional InvestingPro Tips available, including insights into EverQuote's Price / Book multiple and its strong return over various time frames. To access these valuable tips and more, visit https://www.investing.com/pro/EVER and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 11 InvestingPro Tips listed for EverQuote, investors have a comprehensive toolkit at their disposal to make more informed decisions.
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