Russell Investments Group Ltd. Has $3.15 Million Position in Everbridge, Inc. (EVBG)
Russell Investments Group Ltd. raised its stake in shares of Everbridge, Inc. (NASDAQ:EVBG) by 3,697.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,413 shares of the technology company’s stock after buying an additional 126,005 shares during the period. Russell Investments Group Ltd. owned approximately 0.46% of Everbridge worth $3,153,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in EVBG. American International Group Inc. acquired a new position in shares of Everbridge during the first quarter valued at $108,000. Teachers Advisors LLC acquired a new position in shares of Everbridge during the fourth quarter valued at $180,000. US Bancorp DE acquired a new position in shares of Everbridge during the second quarter valued at $292,000. Gradient Investments LLC raised its position in shares of Everbridge by 3.3% in the second quarter. Gradient Investments LLC now owns 18,017 shares of the technology company’s stock valued at $439,000 after buying an additional 576 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Everbridge by 6.5% in the first quarter. Parametric Portfolio Associates LLC now owns 19,687 shares of the technology company’s stock valued at $404,000 after buying an additional 1,199 shares in the last quarter. Institutional investors and hedge funds own 51.22% of the company’s stock.
Everbridge, Inc. (NASDAQ:EVBG) traded up 3.90% during midday trading on Wednesday, reaching $23.43. 330,869 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $22.99 and its 200 day moving average price is $22.28. Everbridge, Inc. has a 1-year low of $11.76 and a 1-year high of $26.87. The firm’s market cap is $658.27 million.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $25 million for the quarter, compared to analysts’ expectations of $24.49 million. Everbridge had a negative net margin of 16.72% and a negative return on equity of 26.39%. The company’s revenue for the quarter was up 34.4% on a year-over-year basis. Equities research analysts anticipate that Everbridge, Inc. will post ($0.28) EPS for the current year.
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Several equities analysts recently weighed in on the stock. Northland Securities assumed coverage on shares of Everbridge in a report on Wednesday. They issued an “outperform” rating and a $28.00 price objective on the stock. KeyCorp restated a “buy” rating and issued a $27.00 price objective on shares of Everbridge in a report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Everbridge in a report on Tuesday, May 9th. Canaccord Genuity increased their price objective on shares of Everbridge from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Everbridge from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.82.
In related news, SVP Scott Burnett sold 10,000 shares of Everbridge stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $23.89, for a total value of $238,900.00. Following the sale, the senior vice president now owns 199 shares in the company, valued at $4,754.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth S. Goldman sold 27,609 shares of Everbridge stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $23.05, for a total transaction of $636,387.45. Following the completion of the sale, the chief financial officer now owns 1,742 shares in the company, valued at approximately $40,153.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,645 shares of company stock worth $6,824,993. 41.40% of the stock is currently owned by company insiders.
Everbridge, Inc is a global software company. The Company provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats, such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events, such as information technology (IT) outages, cyber-attacks or other incidents, such as product recalls or supply-chain interruptions, its Software as a Service (SaaS)-based platform enables its customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.
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