Link Ventures, LLLP, a significant shareholder in EverQuote , Inc. (NASDAQ:EVER), has recently sold a substantial amount of shares in the company, according to the latest filings. Over a series of transactions, Link Ventures disposed of EverQuote shares valued at over $576,000, with sale prices ranging from $21.73 to $25.28 per share.
The sales took place on May 6 and 7, 2024, under a Rule 10b5-1 trading plan that was adopted by the reporting person on September 5, 2023. This prearranged trading plan allows major shareholders to sell their holdings at predetermined times and prices, providing an orderly market and minimizing any potential impact on the stock price.
On May 6, the first set of transactions saw 1,390 shares being sold at an average price of $21.73. The subsequent sales on May 7 included 804 shares at an average price of $22.00, 2,670 shares at $23.42, 8,349 shares at $24.16, and finally, 10,438 shares at $25.28 per share. The prices reported are weighted averages, and the shares were sold in multiple transactions within the stated price ranges.
Following these transactions, the filings indicate that Link Ventures, LLLP still holds a substantial number of EverQuote shares, with ownership following the last sale reported at 1,524,895 shares. Link Ventures' sales were conducted through Link Management, LLC, the general partner of Link Ventures, LLLP, which has a 1% general partner interest in the firm.
EverQuote, based in Cambridge, Massachusetts, operates in the tech sector, providing an online marketplace for insurance shopping. These transactions by a major shareholder are of notable interest to investors, as they can signal the shareholder's view on the company's current valuation and future prospects.
InvestingPro Insights
As Link Ventures, LLLP executes significant transactions in EverQuote, Inc. (NASDAQ:EVER), investors monitoring the company's financial health and market performance may find the following data and tips from InvestingPro valuable:
InvestingPro Data shows that EverQuote's market capitalization currently stands at $827.16 million. Despite a challenging period with a revenue decrease of 33.01% over the last twelve months as of Q1 2024, the company maintains a high gross profit margin of 91.95%. This impressive margin could be indicative of EverQuote's ability to manage its cost of goods sold effectively, even in tough times.
However, the company's P/E Ratio is negative at -17.30, reflecting that it is not currently profitable. Moreover, with a Price / Book ratio of 10.29, the company is trading at a premium compared to its book value, which could raise concerns about overvaluation, especially since the company does not pay a dividend to shareholders.
On a more positive note, an InvestingPro Tip highlights that EverQuote holds more cash than debt on its balance sheet, which is a sign of financial stability. In addition, analysts predict the company will be profitable this year, potentially signaling a turnaround from the previous twelve months' performance.
Investors interested in the real-time metrics and additional InvestingPro Tips for EverQuote can find more information at https://www.investing.com/pro/EVER. There are 13 additional InvestingPro Tips available that could help investors make more informed decisions. Moreover, for those looking to access these insights, using the coupon code PRONEWS24 will provide an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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