Kornitzer Capital Management Inc. KS Acquires Shares of 60,000 Everbridge, Inc. (NASDAQ:EVBG)
Kornitzer Capital Management Inc. KS acquired a new stake in Everbridge, Inc. (NASDAQ:EVBG) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 60,000 shares of the technology company’s stock, valued at approximately $1,462,000. Kornitzer Capital Management Inc. KS owned about 0.22% of Everbridge as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of EVBG. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Everbridge by 25.1% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 628,926 shares of the technology company’s stock valued at $12,912,000 after buying an additional 126,056 shares during the period. Vanguard Group Inc. increased its stake in Everbridge by 11.6% in the first quarter. Vanguard Group Inc. now owns 323,018 shares of the technology company’s stock worth $6,631,000 after buying an additional 33,665 shares during the last quarter. Pier Capital LLC increased its stake in Everbridge by 26.1% in the first quarter. Pier Capital LLC now owns 304,327 shares of the technology company’s stock worth $6,248,000 after buying an additional 63,006 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in Everbridge during the first quarter worth $5,478,000. Finally, Ameriprise Financial Inc. acquired a new stake in Everbridge during the first quarter worth $5,165,000. Hedge funds and other institutional investors own 37.60% of the company’s stock.
Shares of Everbridge, Inc. (NASDAQ:EVBG) opened at 22.17 on Tuesday. The firm’s market capitalization is $617.70 million. The stock has a 50 day moving average of $23.89 and a 200-day moving average of $21.86. Everbridge, Inc. has a 52-week low of $11.76 and a 52-week high of $26.87.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The company had revenue of $25 million during the quarter, compared to the consensus estimate of $24.49 million. Everbridge had a negative net margin of 16.72% and a negative return on equity of 27.23%. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. Equities analysts expect that Everbridge, Inc. will post ($0.30) earnings per share for the current fiscal year.
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A number of equities research analysts have recently weighed in on the stock. KeyCorp reiterated a “buy” rating and issued a $27.00 price target on shares of Everbridge in a research report on Friday. Canaccord Genuity lifted their price target on shares of Everbridge from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday. Bank of America Corporation lifted their price target on shares of Everbridge from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price target (up from $22.00) on shares of Everbridge in a research report on Tuesday, May 9th. Finally, Zacks Investment Research upgraded shares of Everbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Everbridge currently has an average rating of “Buy” and an average price target of $25.60.
In related news, CFO Kenneth S. Goldman sold 10,326 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $22.67, for a total value of $234,090.42. Following the completion of the transaction, the chief financial officer now directly owns 1,742 shares of the company’s stock, valued at approximately $39,491.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Imad Mouline sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president now directly owns 232,301 shares of the company’s stock, valued at $5,807,525. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 227,107 shares of company stock valued at $5,358,794. 41.40% of the stock is owned by insiders.
Everbridge Company Profile
Everbridge, Inc is a global software company. The Company provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats, such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events, such as information technology (IT) outages, cyber-attacks or other incidents, such as product recalls or supply-chain interruptions, its Software as a Service (SaaS)-based platform enables its customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.
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