Advisors Asset Management Inc. Trims Position in Everbridge, Inc. (NASDAQ:EVBG)

Advisors Asset Management Inc. lessened its position in shares of Everbridge, Inc. (NASDAQ:EVBGGet Rating) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,016 shares of the technology company’s stock after selling 1,376 shares during the quarter. Advisors Asset Management Inc.’s holdings in Everbridge were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Everbridge by 14.5% during the first quarter. Vanguard Group Inc. now owns 4,047,870 shares of the technology company’s stock valued at $176,649,000 after acquiring an additional 511,847 shares during the last quarter. Lead Edge Capital Management LLC bought a new stake in Everbridge during the first quarter valued at about $54,755,000. First Trust Advisors LP grew its holdings in Everbridge by 61.9% during the first quarter. First Trust Advisors LP now owns 797,030 shares of the technology company’s stock valued at $34,782,000 after purchasing an additional 304,867 shares during the period. SQN Investors LP bought a new position in shares of Everbridge in the first quarter worth about $23,887,000. Finally, Dragoneer Investment Group LLC bought a new position in shares of Everbridge in the first quarter worth about $18,612,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Insider Buying and Selling

In other news, EVP Vernon Irvin sold 4,443 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $27.85, for a total transaction of $123,737.55. Following the completion of the sale, the executive vice president now directly owns 22,501 shares of the company’s stock, valued at approximately $626,652.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,061 shares of company stock worth $236,307 in the last ninety days. Insiders own 0.44% of the company’s stock.

Everbridge Stock Performance

Shares of EVBG stock opened at $29.86 on Friday. The stock’s 50-day moving average is $31.63 and its two-hundred day moving average is $33.57. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -13.45 and a beta of 0.77. Everbridge, Inc. has a 1 year low of $24.10 and a 1 year high of $122.78. The company has a debt-to-equity ratio of 3.31, a quick ratio of 2.20 and a current ratio of 2.20.

Everbridge (NASDAQ:EVBGGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.12. The firm had revenue of $111.40 million for the quarter, compared to analyst estimates of $110.69 million. Everbridge had a negative return on equity of 8.37% and a negative net margin of 21.04%. Analysts predict that Everbridge, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EVBG. Stifel Nicolaus upped their price objective on Everbridge from $32.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, August 26th. StockNews.com raised Everbridge from a “sell” rating to a “hold” rating in a research note on Wednesday. Raymond James dropped their price objective on Everbridge from $38.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Barclays dropped their price objective on Everbridge from $40.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, July 25th. Finally, Truist Financial increased their price target on Everbridge from $31.00 to $38.00 and gave the company a “hold” rating in a research note on Tuesday, August 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.92.

About Everbridge

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Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events. Its SaaS-based CEM platform enables 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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Institutional Ownership by Quarter for Everbridge (NASDAQ:EVBG)

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