Everquote's chief accounting officer sells shares worth $5,795

CAMBRIDGE, MA—Jon Ayotte, the Chief Accounting Officer of EverQuote , Inc. (NASDAQ:EVER), recently offloaded 316 shares of the company's Class A common stock. The shares were sold at a price of $18.34 each, amounting to a total transaction value of $5,795.

This transaction was executed on November 18, 2024, under a pre-established Rule 10b5-1 trading plan. The sale was made to fulfill tax withholding obligations following the vesting of restricted stock units on November 15, 2024. It is important to note that this was not a discretionary trade by Mr. Ayotte.

Following this transaction, Ayotte holds 55,951 shares of EverQuote.

In other recent news, EverQuote has reported impressive Q3 2024 financial results, exceeding their prior guidance. The online insurance marketplace saw its total revenues surge to $144.5 million, a 163% increase year-over-year. The bulk of this growth was driven by a significant 200% rise in auto insurance revenue, while home insurance revenue also saw a healthy 30% growth. In response to these robust results, Needham maintained its Buy rating on EverQuote but lowered the price target to $30, while Canaccord Genuity maintained a Buy rating and a $35.00 price target. Despite potential impacts of new FCC (BME:FCC) regulations, EverQuote remains optimistic about its long-term growth, expecting over 100% growth in Q4. The recent developments also highlight EverQuote's successful collaborations with large carriers, leading to data-driven pricing changes and new service offerings. These are recent developments that investors should take note of.

InvestingPro Insights

While Jon Ayotte's recent stock sale was primarily to fulfill tax obligations, it's worth examining EverQuote's financial position to provide context for investors. According to InvestingPro data, EverQuote boasts a market capitalization of $668.85 million, reflecting its position in the insurance technology sector.

The company's financial health appears robust, with an InvestingPro Tip highlighting that EverQuote holds more cash than debt on its balance sheet. This strong liquidity position is further supported by another tip indicating that the company's liquid assets exceed short-term obligations, suggesting financial stability.

EverQuote's growth trajectory is also noteworthy. The company has demonstrated impressive revenue growth, with a 27.43% increase over the last twelve months and a remarkable 162.73% quarterly growth in Q3 2024. This aligns with an InvestingPro Tip predicting that analysts anticipate sales growth in the current year.

For investors seeking more comprehensive insights, InvestingPro offers 13 additional tips for EverQuote, providing a deeper understanding of the company's financial outlook and market position.

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