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David Brainard, Chief Technology Officer of EverQuote , Inc. (NASDAQ:EVER), a company that has delivered an impressive 60.78% return year-to-date and maintains excellent gross profit margins of 95%, executed a series of stock transactions on December 26, 2024, as reported in a recent SEC filing. Brainard sold 29,248 shares of EverQuote's Class A Common Stock at an average price of $19.93 per share, generating a total of $582,912. According to InvestingPro analysis, EverQuote appears undervalued at its current market cap of $697 million, with 12 additional key insights available to subscribers.
In addition to the sale, Brainard also exercised stock options, acquiring a total of 29,248 shares. The exercise prices ranged from $7.095 to $9.41 per share, with the transactions amounting to a total value of $240,068. These transactions were conducted under a Rule 10b5-1 trading plan adopted earlier in the year. Following these transactions, Brainard holds 116,212 shares of EverQuote, demonstrating continued confidence in the company, which maintains a strong financial health score according to InvestingPro metrics.
In other recent news, EverQuote has been the focus of several analyst ratings. Raymond (NS:RYMD) James upgraded the company's stock rating to Strong Buy, despite potential challenges posed by an upcoming FCC (BME:FCC) rule change. This upgrade comes on the heels of EverQuote's robust Q3 2024 financial results. The company reported total revenues of $144.5 million, marking a 163% increase year-over-year, primarily driven by a 200% rise in auto insurance revenue and a 30% increase in home insurance revenue.
Needham maintained its Buy rating on EverQuote but lowered the price target to $30, reflecting current lower valuations in the financial marketplace. Canaccord Genuity also maintained a Buy rating on EverQuote's stock and set a $35.00 price target, following the company's impressive Q3 performance.
These recent developments highlight EverQuote's successful collaborations with large carriers, leading to data-driven pricing changes and new service offerings. Despite potential impacts of new FCC regulations, EverQuote remains optimistic about long-term growth. The company has set Q4 guidance, anticipating over 100% growth.
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