First Trust Advisors LP Sells 20,611 Shares of Everbridge Inc (NASDAQ:EVBG)

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First Trust Advisors LP reduced its holdings in Everbridge Inc (NASDAQ:EVBG) by 24.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 63,091 shares of the technology company’s stock after selling 20,611 shares during the quarter. First Trust Advisors LP’s holdings in Everbridge were worth $4,732,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EVBG. Strs Ohio bought a new position in shares of Everbridge in the 1st quarter valued at about $30,000. Resources Investment Advisors Inc. grew its position in shares of Everbridge by 32.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,029 shares of the technology company’s stock valued at $115,000 after acquiring an additional 500 shares during the period. Bank of Montreal Can grew its position in shares of Everbridge by 281.6% in the 4th quarter. Bank of Montreal Can now owns 706 shares of the technology company’s stock valued at $40,000 after acquiring an additional 521 shares during the period. New York State Common Retirement Fund grew its position in shares of Everbridge by 1.1% in the 4th quarter. New York State Common Retirement Fund now owns 51,687 shares of the technology company’s stock valued at $2,934,000 after acquiring an additional 563 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its position in shares of Everbridge by 7.9% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 7,988 shares of the technology company’s stock valued at $599,000 after acquiring an additional 587 shares during the period. Hedge funds and other institutional investors own 96.93% of the company’s stock.

In other news, CEO Jaime Wallace Ellertson sold 277,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $81.45, for a total value of $22,561,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Elliot J. Mark sold 2,567 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $85.00, for a total transaction of $218,195.00. The disclosure for this sale can be found here. Insiders sold a total of 354,432 shares of company stock valued at $28,432,354 in the last three months. Insiders own 2.20% of the company’s stock.

Shares of EVBG stock opened at $83.33 on Wednesday. The stock has a market cap of $2.77 billion, a P/E ratio of -58.27 and a beta of 0.77. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.52. Everbridge Inc has a 52 week low of $41.94 and a 52 week high of $87.77.

Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, May 6th. The technology company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.09. The business had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.23 million. Everbridge had a negative net margin of 30.93% and a negative return on equity of 52.04%. Everbridge’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. On average, research analysts forecast that Everbridge Inc will post -1.41 EPS for the current year.

A number of brokerages have recently commented on EVBG. Zacks Investment Research downgraded shares of Everbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Stephens reissued a “buy” rating and issued a $74.00 price objective on shares of Everbridge in a research report on Monday, May 6th. SunTrust Banks lifted their price objective on shares of Everbridge to $87.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Raymond James lifted their price objective on shares of Everbridge from $70.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Finally, BidaskClub downgraded shares of Everbridge from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $76.00.

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About Everbridge

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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