EverQuote announces a $21 million share repurchase, reducing Blundin's ownership while affirming growth confidence amid a $50 million program.
Quiver AI Summary
EverQuote, Inc., a leading online insurance marketplace, announced a plan to repurchase 900,000 shares of its Class A common stock for $21 million from Link Ventures, an entity affiliated with David Blundin, the company's Chairman and Co-Founder. This repurchase, part of a broader $50 million share buyback program initiated on August 4, 2025, is aimed at improving capital efficiency while minimizing impacts on liquidity. The shares will be bought at a price of $23.33 each, reflecting discounts to recent closing prices. Blundin expressed support for EverQuote's AI strategy and the benefits this transaction will provide for both parties. Following the repurchase, Link Ventures and its affiliates will remain EverQuote’s largest shareholders.
Potential Positives
- EverQuote is executing a significant portion of its $50 million share repurchase program, indicating strong confidence in its financial position and long-term growth prospects.
- The repurchase was conducted at a discount to the market price, which suggests a prudent use of capital that can provide value to shareholders.
- David Blundin, EverQuote's Chairman and largest shareholder, reaffirms his commitment to the company's AI strategy and long-term success, signaling trust in the company's direction.
- The transaction was approved by an independent board committee, demonstrating adherence to good corporate governance practices.
Potential Negatives
- The share repurchase involves a discount to the market price, which could raise concerns about the company's valuation and market confidence.
- The transaction predominantly benefits the largest shareholder, David Blundin, which may lead to perceptions of favoritism in corporate governance.
- The ongoing reliance on buybacks instead of reinvesting in growth could suggest a lack of viable growth opportunities within the company.
FAQ
What is the purpose of EverQuote's share repurchase program?
The program aims to enhance shareholder value by repurchasing shares, demonstrating confidence in the company's long-term growth.
Who is the largest shareholder of EverQuote?
David Blundin, EverQuote's Chairman and Co-Founder, remains the largest shareholder following the share repurchase.
How many shares are being repurchased in this transaction?
EverQuote is repurchasing an aggregate of 900,000 shares of its Class A common stock.
What is the price per share for the repurchase?
The repurchase price per share is $23.33, reflecting a discount to the recent closing price.
When is the repurchase expected to close?
The share repurchase is expected to close by August 12, 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EVER Insider Trading Activity
$EVER insiders have traded $EVER stock on the open market 63 times in the past 6 months. Of those trades, 0 have been purchases and 63 have been sales.
Here’s a breakdown of recent trading of $EVER stock by insiders over the last 6 months:
- DAVID B BLUNDIN has made 0 purchases and 21 sales selling 228,514 shares for an estimated $6,530,058.
- JAYME MENDAL (CEO and President) has made 0 purchases and 5 sales selling 122,557 shares for an estimated $3,177,243.
- DAVID BRAINARD (Chief Technology Officer) has made 0 purchases and 8 sales selling 29,077 shares for an estimated $678,313.
- JULIA BRNCIC (General Counsel) has made 0 purchases and 6 sales selling 26,355 shares for an estimated $661,784.
- VENTURES, LLLP LINK has made 0 purchases and 7 sales selling 11,908 shares for an estimated $340,283.
- GEORGE R NEBLE sold 5,000 shares for an estimated $150,000
- JOHN L. SHIELDS has made 0 purchases and 2 sales selling 4,000 shares for an estimated $90,460.
- JOSEPH SANBORN (Chief Financial Officer) has made 0 purchases and 8 sales selling 3,614 shares for an estimated $88,185.
- JON AYOTTE (Chief Accounting Officer) has made 0 purchases and 5 sales selling 2,898 shares for an estimated $71,923.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EVER Hedge Fund Activity
We have seen 120 institutional investors add shares of $EVER stock to their portfolio, and 97 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 486,796 shares (-12.6%) from their portfolio in Q1 2025, for an estimated $12,749,187
- MARSHALL WACE, LLP removed 476,604 shares (-82.6%) from their portfolio in Q1 2025, for an estimated $12,482,258
- POINT72 ASSET MANAGEMENT, L.P. removed 461,013 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,073,930
- HENNESSY ADVISORS INC added 420,600 shares (+inf%) to their portfolio in Q2 2025, for an estimated $10,170,108
- GOLDMAN SACHS GROUP INC removed 399,333 shares (-71.9%) from their portfolio in Q1 2025, for an estimated $10,458,531
- UBS GROUP AG removed 360,204 shares (-38.0%) from their portfolio in Q1 2025, for an estimated $9,433,742
- BANK OF AMERICA CORP /DE/ added 318,433 shares (+1230.7%) to their portfolio in Q1 2025, for an estimated $8,339,760
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$EVER Analyst Ratings
Wall Street analysts have issued reports on $EVER in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Needham issued a "Buy" rating on 08/05/2025
- JP Morgan issued a "Overweight" rating on 05/06/2025
- Canaccord Genuity issued a "Buy" rating on 02/24/2025
To track analyst ratings and price targets for $EVER, check out Quiver Quantitative's $EVER forecast page.
$EVER Price Targets
Multiple analysts have issued price targets for $EVER recently. We have seen 3 analysts offer price targets for $EVER in the last 6 months, with a median target of $30.0.
Here are some recent targets:
- Mayank Tandon from Needham set a target price of $38.0 on 08/05/2025
- Cory Carpenter from JP Morgan set a target price of $30.0 on 05/06/2025
- Michael Graham from Canaccord Genuity set a target price of $30.0 on 02/24/2025
Full Release
- Enables EverQuote to efficiently execute a portion of its $50 million Share Repurchase Program
- Mr. Blundin remains EverQuote’s Chairman and largest shareholder
CAMBRIDGE, Mass., Aug. 11, 2025 (GLOBE NEWSWIRE) -- EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced that it has agreed to repurchase an aggregate of 900,000 shares of its Class A common stock, resulting in an aggregate repurchase price of $21 million (the “Repurchase”) from Link Ventures, which is an entity affiliated with funds advised by David Blundin, EverQuote’s Chairman and Co-Founder, and other affiliated entities of Mr. Blundin. The transaction was executed on a price per share of $23.33, which represents a 1.75% discount to Friday’s closing price and a 3.96% discount on the Company’s 10-day volume-weight average price on August 8, 2025, and comes in part of the $50 million share repurchase program announced on August 4, 2025.
“We believe today’s discounted repurchase is an accretive use of capital that enables us to efficiently execute a portion of our recently announced $50 million share buyback program in a manner that does not adversely impact liquidity in EverQuote’s public float,” said Joseph Sanborn, CFO of EverQuote. “This repurchase reiterates our confidence in EverQuote’s ability to generate long-term sustainable growth and free cash flow, while maintaining a strong balance sheet.”
"As an early-stage investor, the proceeds from this repurchase will support Link Ventures’ investments in early-stage AI companies and entrepreneurs. I believe deeply in EverQuote’s AI strategy and remain committed to its long-term success, as their largest shareholder,” said David Blundin, Chairman and Co-Founder of EverQuote and Managing Partner of Link Ventures.
In connection with the Repurchase, Mr. Blundin and Link Ventures entered into a 180-day lock-up agreement with EverQuote which restricts the sale or transfer of any of EverQuote’s shares of capital stock beneficially owned by Mr. Blundin, subject to customary exceptions, including sales pursuant to his previously adopted 10b5-1 trading plan. After 90 days following the closing of the Repurchase, Mr. Blundin may adopt a new 10b5-1 trading plan, so long as such plan does not permit sales during the 180-day lock-up period, and may sell shares in private placements to long-only investors reasonably acceptable to EverQuote.
Following the Repurchase, Link Ventures and affiliated entities of Mr. Blundin will remain EverQuote’s largest shareholder, owning 18.8% of EverQuote’s total common shares outstanding and 56.8% of EverQuote’s voting power, down from 20.8% of EverQuote’s shares outstanding and 57.4% of EverQuote’s voting power prior to the Repurchase. Prior to the Repurchase, EverQuote had approximately 36.6 million shares of Class A common stock and Class B common stock outstanding. Following the Repurchase, EverQuote will have approximately 35.7 million shares of Class A common stock and Class B common stock outstanding. The Repurchase is expected to close by August 12, 2025.
The Repurchase was approved by the Audit Committee of EverQuote’s Board of Directors, consisting solely of independent directors not affiliated with Link Ventures.
About EverQuote
EverQuote operates a leading online marketplace for insurance shopping, connecting consumers with insurance provider customers, which includes both carriers and agents. Our vision is to be the leading growth partner for property and casualty, or P&C, insurance providers. Our results-driven marketplace, powered by our proprietary data and technology platform, is improving the way insurance providers attract and connect with consumers shopping for insurance.
For more information, visit https://investors.everquote.com and follow on LinkedIn .
About Link Ventures
Link Ventures is a venture capital firm investing in early-stage technology startups that leverage data science and artificial intelligence to disrupt existing markets and help solve challenging problems for enterprises and consumers. Link's team has deep sector expertise, having co-founded leading enterprise and consumer internet companies and led numerous transactions and successful investments in internet services businesses for over 20 years. Link is dedicated to fueling innovation through AI data-driven strategies and expertise lies in leveraging AI and machine learning to help talented entrepreneurs scale their companies into category leaders.
David Blundin is a Managing Partner of Link Ventures and is an instructor at MIT, teaching the class "AI for Impact: Venture Studio", where he received a BS in Computer Science and researched neural network technology at the MIT AI lab.
For more information, please visit https://www.linkventures.com/ and follow on LinkedIn .
Investor Relations Contact
Brinlea Johnson
The Blueshirt Group
(415) 269-2645
