Trexquant Investment LP increased its stake in shares of Everbridge Inc (NASDAQ:EVBG) by 272.0% during the 1st quarter, Holdings Channel reports. The firm owned 24,177 shares of the technology company’s stock after acquiring an additional 17,677 shares during the quarter. Trexquant Investment LP’s holdings in Everbridge were worth $1,814,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EVBG. Victory Capital Management Inc. bought a new stake in shares of Everbridge during the first quarter valued at approximately $27,484,000. Bank of New York Mellon Corp grew its stake in shares of Everbridge by 89.5% during the fourth quarter. Bank of New York Mellon Corp now owns 539,073 shares of the technology company’s stock valued at $30,598,000 after purchasing an additional 254,536 shares during the last quarter. Polar Capital LLP grew its stake in shares of Everbridge by 52.6% during the fourth quarter. Polar Capital LLP now owns 700,538 shares of the technology company’s stock valued at $39,763,000 after purchasing an additional 241,458 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Everbridge by 101.0% during the fourth quarter. Jennison Associates LLC now owns 413,402 shares of the technology company’s stock valued at $23,465,000 after purchasing an additional 207,775 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Everbridge in the fourth quarter valued at approximately $10,334,000. 96.93% of the stock is currently owned by institutional investors and hedge funds.
EVBG traded up $0.26 during mid-day trading on Friday, hitting $85.61. The stock had a trading volume of 4,056 shares, compared to its average volume of 627,776. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market cap of $2.77 billion, a PE ratio of -59.98 and a beta of 0.78. Everbridge Inc has a 1-year low of $41.94 and a 1-year high of $87.77.
Everbridge (NASDAQ:EVBG) last posted its earnings results on Monday, May 6th. The technology company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.09. The company had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.23 million. Everbridge had a negative net margin of 30.93% and a negative return on equity of 52.04%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. Equities analysts forecast that Everbridge Inc will post -1.41 EPS for the current fiscal year.
EVBG has been the topic of several analyst reports. Stephens restated a “buy” rating and issued a $74.00 price objective on shares of Everbridge in a report on Monday, April 29th. BidaskClub upgraded shares of Everbridge from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 8th. SunTrust Banks increased their price objective on shares of Everbridge to $73.00 and gave the company a “buy” rating in a report on Wednesday, February 20th. Credit Suisse Group increased their price objective on shares of Everbridge from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, Robert W. Baird increased their price objective on shares of Everbridge from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 20th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.00.
In other Everbridge news, SVP Elliot J. Mark sold 2,567 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $85.00, for a total value of $218,195.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jaime Wallace Ellertson sold 277,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $81.45, for a total transaction of $22,561,650.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,432 shares of company stock worth $28,210,744. Company insiders own 2.20% of the company’s stock.
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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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