Everbridge, Inc. (EVBG) Stock Price Down 3.1% Following Insider Selling
Everbridge, Inc. (NASDAQ:EVBG) shares dropped 3.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $26.43 and last traded at $29.58. Approximately 520,100 shares changed hands during mid-day trading, an increase of 137% from the average daily volume of 219,211 shares. The stock had previously closed at $28.68.
Specifically, SVP Elliot J. Mark sold 1,000 shares of Everbridge stock in a transaction on Monday, November 13th. The stock was sold at an average price of $27.76, for a total transaction of $27,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R William Burgess, Jr. sold 23,244 shares of Everbridge stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $22.56, for a total value of $524,384.64. Following the sale, the insider now directly owns 45,165 shares of the company’s stock, valued at $1,018,922.40. The disclosure for this sale can be found here. Insiders sold a total of 83,051 shares of company stock valued at $2,073,584 over the last three months. Insiders own 41.40% of the company’s stock.
EVBG has been the subject of a number of analyst reports. Zacks Investment Research cut Everbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. William Blair reaffirmed a “buy” rating on shares of Everbridge in a research note on Monday, September 25th. Needham & Company LLC lifted their price objective on Everbridge from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Canaccord Genuity reaffirmed a “buy” rating and set a $33.00 price objective (up from $28.00) on shares of Everbridge in a research note on Tuesday, November 7th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $31.00 price objective (up from $28.00) on shares of Everbridge in a research note on Friday, October 13th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Everbridge presently has an average rating of “Buy” and a consensus target price of $31.00.
Everbridge (NASDAQ:EVBG) last posted its earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $27.31 million for the quarter, compared to analyst estimates of $26.41 million. Everbridge had a negative return on equity of 29.44% and a negative net margin of 17.10%. The company’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. sell-side analysts anticipate that Everbridge, Inc. will post -0.55 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Everbridge during the second quarter worth about $2,706,000. Nicholas Investment Partners LP lifted its holdings in Everbridge by 20.8% during the second quarter. Nicholas Investment Partners LP now owns 436,179 shares of the technology company’s stock worth $10,626,000 after acquiring an additional 75,076 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Everbridge by 11.6% in the first quarter. Vanguard Group Inc. now owns 323,018 shares of the technology company’s stock valued at $6,631,000 after purchasing an additional 33,665 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Everbridge by 67.8% in the second quarter. Bank of New York Mellon Corp now owns 198,687 shares of the technology company’s stock valued at $4,840,000 after purchasing an additional 80,245 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Everbridge in the second quarter valued at about $288,000. Hedge funds and other institutional investors own 54.44% of the company’s stock.
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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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