Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Everbridge Inc (NASDAQ:EVBG) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,560 shares of the technology company’s stock after selling 610 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Everbridge were worth $267,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in Everbridge by 279.2% in the 3rd quarter. Morgan Stanley now owns 356,257 shares of the technology company’s stock valued at $20,534,000 after purchasing an additional 262,312 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 valued at $30,598,000 after acquiring an additional 254,536 shares during the last quarter. Polar Capital LLP lifted its position in Everbridge by 52.6% in the fourth quarter. Polar Capital LLP now owns 700,538 shares of the technology company’s stock valued at $39,763,000 after acquiring an additional 241,458 shares during the last quarter. Jennison Associates LLC lifted its position in Everbridge by 101.0% in the fourth quarter. Jennison Associates LLC now owns 413,402 shares of the technology company’s stock valued at $23,465,000 after acquiring an additional 207,775 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in Everbridge in the fourth quarter valued at $10,334,000. 88.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP James Totton sold 21,875 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Imad Mouline sold 3,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.67, for a total transaction of $194,010.00. The disclosure for this sale can be found here. Insiders sold 73,306 shares of company stock valued at $5,440,688 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, May 6th. The technology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. Everbridge had a negative net margin of 30.93% and a negative return on equity of 89.48%. The business had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.23 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The business’s revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts predict that Everbridge Inc will post -1.41 EPS for the current year.
EVBG has been the subject of a number of research reports. Stephens reissued a “buy” rating and issued a $74.00 price target on shares of Everbridge in a research report on Monday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of Everbridge in a research report on Wednesday, February 6th. They issued a “neutral” rating and a $69.00 price target for the company. BidaskClub raised shares of Everbridge from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised shares of Everbridge from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, SunTrust Banks boosted their price target on shares of Everbridge to $73.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $76.00.
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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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