In a recent move, Link Ventures, LLLP, a significant shareholder in EverQuote , Inc. (NASDAQ:EVER), has sold a notable portion of its holdings in the company. The transactions, which took place on March 13 and 14, 2024, resulted in the sale of EverQuote shares at prices ranging from $18.60 to $19.39.
The sales were conducted through a series of transactions over the two days, with a total of 90,398 shares of Class A Common Stock being sold. The total proceeds from these sales amounted to approximately $2,403,426. It is important to note that these sales were executed in accordance with a Rule 10b5-1 trading plan, which was previously adopted by the reporting person on September 5, 2023.
On the first day of the transactions, a total of 40,838 shares were sold at weighted average prices between $18.91 and $19.34. The following day, 33,560 shares were sold at a weighted average price of $18.60. The sales on both days were made in multiple transactions at varying prices within the stated ranges.
Following the sales, Link Ventures, LLLP's ownership in EverQuote decreased, yet they remain a significant shareholder with 1,615,484 shares of the company's Class A Common Stock. Link Management, LLC, as the general partner of Link Ventures, LLLP, filed the report jointly and holds a 1% general partner interest in Link Ventures, LLLP.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, with David Blundin, as managing member of Link Management, LLC, signing off on the report. EverQuote, Inc., a technology company specializing in services related to computer programming and data processing, has not commented on these transactions.
Investors and market watchers often pay close attention to insider sales such as these, as they can provide insights into the perspectives of significant shareholders regarding the company's current valuation and future prospects.
InvestingPro Insights
EverQuote, Inc. (NASDAQ:EVER) has been making waves in the market, and recent insider sales have put the spotlight on the company's financial health and future outlook. According to InvestingPro data, EverQuote boasts an impressive gross profit margin of 92.2% as of the last twelve months leading up to Q4 2023. This indicates the company's ability to manage its cost of goods sold effectively and could be a positive sign for investors looking at the company's operational efficiency.
Despite not being profitable in the last twelve months, with a P/E ratio of -11.44, analysts on InvestingPro predict that EverQuote will turn profitable this year. This forecast aligns with the company's significant returns over recent periods, including a 12.38% return over the last week and an 18.26% return over the last month as of the 75th day of 2024. Such strong performance trends may be indicative of growing investor confidence and market momentum.
Moreover, EverQuote's liquidity position is robust, with liquid assets exceeding short-term obligations. This financial stability is crucial for investors as it suggests the company is well-positioned to meet its immediate financial commitments.
For those interested in deeper analysis, there are additional InvestingPro Tips available that provide further insights into EverQuote's financial metrics and stock performance. To access these tips and enhance your investment strategy, visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With the current market dynamics, these tips could be invaluable for making informed investment decisions.
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