JPMorgan Chase & Co. Has $122,000 Position in Everbridge, Inc. (EVBG)
JPMorgan Chase & Co. cut its stake in shares of Everbridge, Inc. (NASDAQ:EVBG) by 51.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,936 shares of the technology company’s stock after selling 6,350 shares during the period. JPMorgan Chase & Co.’s holdings in Everbridge were worth $122,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in EVBG. Parametric Portfolio Associates LLC increased its position in shares of Everbridge by 6.5% in the first quarter. Parametric Portfolio Associates LLC now owns 19,687 shares of the technology company’s stock valued at $404,000 after buying an additional 1,199 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Everbridge during the first quarter valued at approximately $5,165,000. Bank of New York Mellon Corp increased its position in shares of Everbridge by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 118,442 shares of the technology company’s stock valued at $2,432,000 after buying an additional 325 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Everbridge by 404.7% in the first quarter. Wells Fargo & Company MN now owns 27,652 shares of the technology company’s stock valued at $568,000 after buying an additional 22,173 shares during the last quarter. Finally, Teachers Advisors LLC purchased a new position in shares of Everbridge during the fourth quarter valued at approximately $180,000. 37.60% of the stock is owned by hedge funds and other institutional investors.
Everbridge, Inc. (NASDAQ EVBG) opened at 22.31 on Wednesday. Everbridge, Inc. has a 12 month low of $11.76 and a 12 month high of $26.87. The company has a 50-day moving average of $23.78 and a 200-day moving average of $21.88. The stock’s market cap is $621.60 million.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Everbridge had a negative net margin of 16.72% and a negative return on equity of 27.23%. The business had revenue of $25 million during the quarter, compared to analyst estimates of $24.49 million. The business’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, equities analysts forecast that Everbridge, Inc. will post ($0.28) EPS for the current fiscal year.
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Several research analysts have commented on the stock. Canaccord Genuity raised their price target on shares of Everbridge from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 4th. KeyCorp restated a “buy” rating and set a $27.00 price objective on shares of Everbridge in a research report on Friday, August 4th. SunTrust Banks, Inc. began coverage on shares of Everbridge in a research report on Monday, June 26th. They set a “buy” rating and a $32.00 price objective on the stock. Bank of America Corporation raised their price objective 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. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective (up previously from $25.00) on shares of Everbridge in a research report on Tuesday, May 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Everbridge currently has an average rating of “Buy” and a consensus target price of $25.60.
In other news, SVP Imad Mouline sold 10,000 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the sale, the senior vice president now owns 232,301 shares of the company’s stock, valued at $5,807,525. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gary R. Phillips sold 15,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $22.04, for a total transaction of $330,600.00. Following the completion of the sale, the senior vice president now directly owns 1,045 shares in the company, valued at approximately $23,031.80. The disclosure for this sale can be found here. Insiders have sold 242,907 shares of company stock valued at $5,708,658 in the last quarter. 41.40% of the stock is owned by company insiders.
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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