Everbridge Inc (EVBG) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its stake in shares of Everbridge Inc (NASDAQ:EVBG) by 41.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,796 shares of the technology company’s stock after selling 71,853 shares during the quarter. Russell Investments Group Ltd. owned 0.35% of Everbridge worth $4,729,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in EVBG. Engineers Gate Manager LP acquired a new position in shares of Everbridge in the 2nd quarter valued at $353,000. Fred Alger Management Inc. raised its stake in shares of Everbridge by 12.7% in the 2nd quarter. Fred Alger Management Inc. now owns 1,886,522 shares of the technology company’s stock valued at $89,459,000 after buying an additional 212,555 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Everbridge by 12.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 83,403 shares of the technology company’s stock valued at $3,053,000 after buying an additional 9,157 shares in the last quarter. Timpani Capital Management LLC raised its stake in shares of Everbridge by 17.7% in the 1st quarter. Timpani Capital Management LLC now owns 87,954 shares of the technology company’s stock valued at $3,219,000 after buying an additional 13,204 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Everbridge by 91.3% in the 1st quarter. Barclays PLC now owns 9,626 shares of the technology company’s stock valued at $353,000 after buying an additional 4,594 shares in the last quarter. Hedge funds and other institutional investors own 89.16% of the company’s stock.
In related news, insider Robert W. Hughes sold 23,700 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $60.68, for a total transaction of $1,438,116.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jaime Wallace Ellertson sold 219,349 shares of the stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $51.33, for a total transaction of $11,259,184.17. The disclosure for this sale can be found here. Insiders have sold a total of 733,757 shares of company stock valued at $37,040,714 in the last quarter. 11.20% of the stock is currently owned by corporate insiders.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, August 6th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $35.80 million during the quarter, compared to analysts’ expectations of $34.18 million. Everbridge had a negative net margin of 31.96% and a negative return on equity of 64.53%. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. equities research analysts expect that Everbridge Inc will post -1.54 EPS for the current year.
EVBG has been the subject of a number of recent research reports. Needham & Company LLC increased their price objective on shares of Everbridge to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 22nd. Canaccord Genuity increased their price objective on shares of Everbridge from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, June 7th. Bank of America increased their price objective on shares of Everbridge from $45.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, June 11th. KeyCorp increased their price objective on shares of Everbridge from $45.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, June 15th. Finally, BidaskClub cut shares of Everbridge from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 20th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Everbridge presently has a consensus rating of “Buy” and a consensus target price of $50.56.
Everbridge, Inc operates as a software company in the United States, Sweden, England, and China. The company offers Critical Event Management, a SaaS-based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification, which enables enterprises and governmental entities to send notifications to individuals or groups to keep them informed before, during, and after natural or man-made disasters, and other emergencies; Safety Connection that enables organizations to send notifications based on last known location of an individual; Incident Management, which enables organizations to automate workflows and make their communications relevant; and IT Alerting that enables IT professionals to alert and communicate with members of their teams during an IT incident or outage.
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