Fred Alger Management Inc. Has $30.22 Million Holdings in Everbridge, Inc. (EVBG)
Fred Alger Management Inc. cut its stake in shares of Everbridge, Inc. (NASDAQ:EVBG) by 17.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,240,573 shares of the technology company’s stock after selling 269,623 shares during the quarter. Fred Alger Management Inc. owned approximately 4.45% of Everbridge worth $30,220,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Everbridge by 13.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 714,858 shares of the technology company’s stock valued at $17,414,000 after acquiring an additional 85,932 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Everbridge by 115.8% during the second quarter. Vanguard Group Inc. now owns 696,917 shares of the technology company’s stock valued at $16,977,000 after acquiring an additional 373,899 shares during the period. Nicholas Investment Partners LP lifted its holdings in shares of Everbridge by 20.8% during the second quarter. Nicholas Investment Partners LP now owns 436,179 shares of the technology company’s stock valued at $10,626,000 after acquiring an additional 75,076 shares during the period. Voya Investment Management LLC bought a new position in shares of Everbridge during the second quarter valued at $8,364,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Everbridge by 18.8% during the second quarter. Ameriprise Financial Inc. now owns 298,761 shares of the technology company’s stock valued at $7,277,000 after acquiring an additional 47,178 shares during the period. 51.22% of the stock is owned by institutional investors.
In related news, Director Cintawati W. Putra sold 58,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $23.72, for a total transaction of $1,375,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Elliot J. Mark sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $26.81, for a total value of $67,025.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,728 shares of company stock valued at $5,183,982. Corporate insiders own 41.40% of the company’s stock.
A number of research analysts have issued reports on the company. ValuEngine raised Everbridge from a “sell” rating to a “hold” rating in a report on Monday, September 18th. KeyCorp reissued a “buy” rating and set a $27.00 price objective on shares of Everbridge in a report on Sunday, September 10th. Northland Securities assumed coverage on Everbridge in a report on Wednesday, August 30th. They set an “outperform” rating and a $28.00 price objective for the company. Zacks Investment Research cut Everbridge from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Canaccord Genuity lifted their price objective on Everbridge from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.10.
Shares of Everbridge, Inc. (NASDAQ EVBG) traded down 2.130% during mid-day trading on Thursday, hitting $26.425. The stock had a trading volume of 52,355 shares. Everbridge, Inc. has a 1-year low of $12.92 and a 1-year high of $27.51. The company’s market capitalization is $742.41 million. The stock’s 50-day moving average price is $25.17 and its 200 day moving average price is $25.17.
Everbridge (NASDAQ:EVBG) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $25.00 million during the quarter, compared to the consensus estimate of $24.49 million. Everbridge had a negative return on equity of 26.39% and a negative net margin of 16.72%. Everbridge’s revenue was up 34.4% on a year-over-year basis. On average, analysts predict that Everbridge, Inc. will post ($0.28) EPS for the current fiscal year.
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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