Geode Capital Management LLC Acquires 5,317 Shares of Everbridge, Inc. (EVBG)
Geode Capital Management LLC raised its stake in shares of Everbridge, Inc. (NASDAQ:EVBG) by 5.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 105,783 shares of the technology company’s stock after buying an additional 5,317 shares during the period. Geode Capital Management LLC owned 0.39% of Everbridge worth $2,171,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. State Street Corp acquired a new position in shares of Everbridge during the fourth quarter valued at $1,490,000. Teachers Advisors LLC acquired a new position in shares of Everbridge during the fourth quarter valued at $180,000. Wells Fargo & Company MN boosted its position in shares of Everbridge by 404.7% in the first quarter. Wells Fargo & Company MN now owns 27,652 shares of the technology company’s stock valued at $568,000 after buying an additional 22,173 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Everbridge by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 118,442 shares of the technology company’s stock valued at $2,432,000 after buying an additional 325 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Everbridge during the first quarter valued at $5,165,000. 51.22% of the stock is currently owned by institutional investors and hedge funds.
Everbridge, Inc. (EVBG) traded down 1.42% during trading on Monday, hitting $22.23. 27,403 shares of the company’s stock traded hands. The company’s 50 day moving average is $22.99 and its 200-day moving average is $22.28. Everbridge, Inc. has a 12 month low of $11.76 and a 12 month high of $26.87. The stock’s market cap is $624.55 million.
Everbridge (NASDAQ:EVBG) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $25 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 34.4% on a year-over-year basis. On average, analysts predict that Everbridge, Inc. will post ($0.28) earnings per share for the current year.
EVBG has been the topic of several recent research reports. Zacks Investment Research raised shares of Everbridge from a “sell” rating to a “hold” rating and set a $26.00 price target on the stock in a research report on Monday, May 1st. Pacific Crest reaffirmed a “buy” rating on shares of Everbridge in a research report on Tuesday, May 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 price target (up previously from $22.00) on shares of Everbridge in a research report on Tuesday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price (up previously from $25.00) on shares of Everbridge in a research report on Tuesday, May 9th. Finally, Bank of America Corporation lifted their target price on shares of Everbridge from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $25.60.
In other Everbridge news, insider R William Burgess, Jr. sold 23,244 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $22.56, for a total transaction of $524,384.64. Following the sale, the insider now owns 45,165 shares of the company’s stock, valued at approximately $1,018,922.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth S. Goldman sold 27,609 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $23.05, for a total transaction of $636,387.45. Following the sale, the chief financial officer now directly 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 three months, insiders have sold 292,645 shares of company stock worth $6,824,993. 41.40% of the stock is owned by 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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