Redwood Investments LLC Acquires 8,973 Shares of Everbridge Inc (NASDAQ:EVBG)

Redwood Investments LLC increased its holdings in Everbridge Inc (NASDAQ:EVBG) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,143 shares of the technology company’s stock after acquiring an additional 8,973 shares during the quarter. Everbridge comprises about 1.6% of Redwood Investments LLC’s investment portfolio, making the stock its 12th biggest holding. Redwood Investments LLC owned about 0.74% of Everbridge worth $21,831,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EVBG. Victory Capital Management Inc. bought a new position in shares of Everbridge in the 1st quarter worth about $27,484,000. Assenagon Asset Management S.A. bought a new stake in Everbridge during the 1st quarter valued at about $10,520,000. Federated Investors Inc. PA increased its stake in Everbridge by 78.4% during the 1st quarter. Federated Investors Inc. PA now owns 308,699 shares of the technology company’s stock valued at $23,155,000 after purchasing an additional 135,699 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in Everbridge during the 1st quarter valued at about $9,848,000. Finally, Eagle Asset Management Inc. bought a new stake in Everbridge during the 1st quarter valued at about $9,848,000. Institutional investors own 96.92% of the company’s stock.

In other news, insider Robert W. Hughes sold 19,278 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $102.93, for a total value of $1,984,284.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Imad Mouline sold 13,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $80.25, for a total transaction of $1,043,250.00. The disclosure for this sale can be found here. Insiders sold 420,719 shares of company stock worth $35,493,696 in the last three months. Insiders own 2.20% of the company’s stock.

Shares of EVBG traded down $2.69 on Wednesday, reaching $80.95. The company’s stock had a trading volume of 39,702 shares, compared to its average volume of 344,034. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $3.28 billion, a PE ratio of -56.77 and a beta of 0.83. The company’s 50 day moving average price is $95.55. Everbridge Inc has a 12-month low of $41.94 and a 12-month high of $104.22.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Monday, August 5th. The technology company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. Everbridge had a negative net margin of 30.93% and a negative return on equity of 52.04%. The company had revenue of $48.40 million for the quarter, compared to the consensus estimate of $47.99 million. During the same quarter last year, the firm posted ($0.18) earnings per share. The firm’s revenue was up 35.2% compared to the same quarter last year. As a group, research analysts expect that Everbridge Inc will post -1.41 earnings per share for the current year.

A number of research firms have weighed in on EVBG. JPMorgan Chase & Co. raised their price objective on shares of Everbridge from $75.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America raised their price objective on shares of Everbridge from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded shares of Everbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. KeyCorp restated a “hold” rating on shares of Everbridge in a research note on Thursday, June 20th. Finally, Credit Suisse Group raised their price objective on shares of Everbridge from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $97.92.

Everbridge Company Profile

Everbridge, Inc operates as a software company in the United States and internationally. The company's Critical Event Management, a software as a service based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification that 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 that 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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Institutional Ownership by Quarter for Everbridge (NASDAQ:EVBG)

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