Everbridge Inc (EVBG) Shares Bought by Redwood Investments LLC

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Redwood Investments LLC grew its holdings in Everbridge Inc (NASDAQ:EVBG) by 57.3% in the first quarter, HoldingsChannel reports. The firm owned 235,170 shares of the technology company’s stock after buying an additional 85,641 shares during the quarter. Everbridge accounts for about 1.3% of Redwood Investments LLC’s portfolio, making the stock its 26th biggest position. Redwood Investments LLC’s holdings in Everbridge were worth $17,640,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EVBG. Victory Capital Management Inc. bought a new stake in shares of Everbridge in the 1st quarter worth $27,484,000. Morgan Stanley grew its holdings in shares of Everbridge by 279.2% in the third quarter. Morgan Stanley now owns 356,257 shares of the technology company’s stock worth $20,534,000 after acquiring an additional 262,312 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Everbridge by 89.5% in the fourth quarter. Bank of New York Mellon Corp now owns 539,073 shares of the technology company’s stock worth $30,598,000 after acquiring an additional 254,536 shares during the period. Polar Capital LLP grew its holdings in shares of Everbridge by 52.6% in the fourth quarter. Polar Capital LLP now owns 700,538 shares of the technology company’s stock worth $39,763,000 after acquiring an additional 241,458 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Everbridge by 101.0% in the fourth quarter. Jennison Associates LLC now owns 413,402 shares of the technology company’s stock worth $23,465,000 after acquiring an additional 207,775 shares during the period. 88.52% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Imad Mouline sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $72.82, for a total value of $364,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Totton sold 21,875 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $72.57, for a total value of $1,587,468.75. The disclosure for this sale can be found here. Insiders sold 70,306 shares of company stock worth $5,246,678 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Several equities analysts recently weighed in on EVBG shares. BidaskClub upgraded Everbridge from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. SunTrust Banks lifted their target price on Everbridge to $87.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Bank of America reiterated a “buy” rating and set a $85.00 target price (up from $78.00) on shares of Everbridge in a research report on Tuesday, May 7th. Credit Suisse Group lifted their target price on Everbridge from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, Raymond James lifted their target price on Everbridge from $70.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.00.

NASDAQ EVBG traded up $0.05 on Friday, hitting $83.82. 1,526 shares of the company traded hands, compared to its average volume of 434,685. The company has a market capitalization of $2.69 billion, a PE ratio of -58.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.35 and a current ratio of 2.42. Everbridge Inc has a 52-week low of $41.94 and a 52-week high of $84.83.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings data on Monday, May 6th. The technology company reported ($0.39) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.09. Everbridge had a negative return on equity of 52.04% and a negative net margin of 30.93%. The business had revenue of $42.82 million for the quarter, compared to the consensus estimate of $42.23 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The business’s revenue was up 40.3% on a year-over-year basis. On average, sell-side analysts forecast that Everbridge Inc will post -1.41 EPS for the current year.

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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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