Panagora Asset Management Inc. Lowers Position in Everbridge, Inc. (NASDAQ:EVBG)

Panagora Asset Management Inc. lowered its stake in shares of Everbridge, Inc. (NASDAQ:EVBG) by 40.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,445 shares of the technology company’s stock after selling 42,889 shares during the period. Panagora Asset Management Inc. owned approximately 0.15% of Everbridge worth $2,220,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in EVBG. Vanguard Group Inc. boosted its holdings in Everbridge by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 5,960,756 shares of the technology company’s stock valued at $144,906,000 after acquiring an additional 163,180 shares during the last quarter. Harber Asset Management LLC raised its holdings in shares of Everbridge by 49.4% in the 4th quarter. Harber Asset Management LLC now owns 554,932 shares of the technology company’s stock worth $13,490,000 after purchasing an additional 183,471 shares during the period. Gabelli Funds LLC acquired a new position in shares of Everbridge in the 1st quarter valued at about $15,842,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Everbridge by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,278 shares of the technology company’s stock worth $9,026,000 after purchasing an additional 2,770 shares during the period. Finally, Norges Bank acquired a new stake in Everbridge during the 4th quarter worth approximately $7,016,000. 89.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EVBG. StockNews.com began coverage on shares of Everbridge in a research report on Sunday, August 25th. They set a “hold” rating on the stock. Robert W. Baird lifted their target price on shares of Everbridge from $29.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Everbridge in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.40.

Everbridge Stock Performance

NASDAQ EVBG opened at $35.00 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of -22.44, a PEG ratio of 0.95 and a beta of 0.98. The company’s fifty day simple moving average is $34.98 and its 200-day simple moving average is $34.29. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.03. Everbridge, Inc. has a 52 week low of $18.50 and a 52 week high of $36.31.

Insiders Place Their Bets

In other news, insider Bryan Reed Barney sold 3,276 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $34.99, for a total transaction of $114,627.24. Following the completion of the sale, the insider now directly owns 18,569 shares in the company, valued at $649,729.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by company insiders.

About Everbridge

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.