Teacher Retirement System of Texas acquired a new position in Everbridge Inc (NASDAQ:EVBG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,150 shares of the technology company’s stock, valued at approximately $244,000.
Other hedge funds also recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in Everbridge in the 2nd quarter worth approximately $353,000. Fred Alger Management Inc. raised its position in Everbridge by 12.7% in the 2nd quarter. Fred Alger Management Inc. now owns 1,886,522 shares of the technology company’s stock worth $89,459,000 after purchasing an additional 212,555 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Everbridge by 12.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 83,403 shares of the technology company’s stock worth $3,053,000 after purchasing an additional 9,157 shares during the last quarter. Timpani Capital Management LLC raised its position in Everbridge by 17.7% in the 1st quarter. Timpani Capital Management LLC now owns 87,954 shares of the technology company’s stock worth $3,219,000 after purchasing an additional 13,204 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Everbridge by 91.3% during the 1st quarter. Barclays PLC now owns 9,626 shares of the technology company’s stock valued at $353,000 after acquiring an additional 4,594 shares during the last quarter. Hedge funds and other institutional investors own 89.16% of the company’s stock.
Shares of Everbridge stock opened at $59.64 on Friday. Everbridge Inc has a 52 week low of $21.83 and a 52 week high of $62.18. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.50 and a current ratio of 1.50.
Everbridge (NASDAQ:EVBG) last issued its earnings results on Monday, August 6th. The technology company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. The company had revenue of $35.80 million during the quarter, compared to analysts’ expectations of $34.18 million. Everbridge had a negative net margin of 31.96% and a negative return on equity of 64.53%. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. research analysts expect that Everbridge Inc will post -1.55 EPS for the current year.
In related news, SVP Elliot J. Mark sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $60.28, for a total value of $210,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jaime Wallace Ellertson sold 381,607 shares of the company’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $49.55, for a total transaction of $18,908,626.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 706,260 shares of company stock valued at $35,296,881. 11.20% of the stock is owned by corporate insiders.
EVBG has been the subject of several recent research reports. Needham & Company LLC upped their target price on shares of Everbridge to $60.00 in a research report on Friday, June 15th. Bank of America upped their target price on shares of Everbridge from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, June 11th. Canaccord Genuity upped their target price on shares of Everbridge from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, June 7th. Northland Securities reiterated a “buy” rating and set a $55.00 target price on shares of Everbridge in a research report on Tuesday, August 7th. Finally, BidaskClub cut shares of Everbridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 20th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.56.
Everbridge Company Profile
Everbridge, Inc operates as a software company in the United States, Sweden, England, and China. The company offers Critical Event Management, a SaaS-based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification, which 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, which 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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