Hood River Capital Management LLC Acquires Shares of 465,100 Everbridge, Inc. (EVBG)
Hood River Capital Management LLC acquired a new position in shares of Everbridge, Inc. (NASDAQ:EVBG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 465,100 shares of the technology company’s stock, valued at approximately $12,288,000. Hood River Capital Management LLC owned 1.65% of Everbridge as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of Everbridge by 196.3% during the 2nd quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock worth $107,000 after acquiring an additional 2,885 shares during the period. American International Group Inc. bought a new position in shares of Everbridge during the 1st quarter worth about $108,000. Fortaleza Asset Management Inc. bought a new position in shares of Everbridge during the 2nd quarter worth about $166,000. Nationwide Fund Advisors lifted its holdings in shares of Everbridge by 210.1% during the 2nd quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock worth $234,000 after acquiring an additional 6,497 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Everbridge during the 2nd quarter worth about $288,000. 54.44% of the stock is owned by institutional investors.
EVBG has been the subject of a number of analyst reports. KeyCorp reaffirmed a “buy” rating and set a $27.00 price objective on shares of Everbridge in a report on Friday, August 4th. Stifel Nicolaus lifted their price target on shares of Everbridge from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 18th. 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 report on Friday, August 4th. Credit Suisse Group began coverage on shares of Everbridge in a report on Friday. They set an “outperform” rating and a $30.00 price target for the company. Finally, William Blair reissued a “buy” rating on shares of Everbridge in a report on Monday, September 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Everbridge has an average rating of “Buy” and a consensus target price of $31.00.
Shares of Everbridge, Inc. (NASDAQ:EVBG) traded down $0.47 during midday trading on Friday, hitting $26.50. 1,202,700 shares of the company’s stock were exchanged, compared to its average volume of 226,592. Everbridge, Inc. has a one year low of $14.26 and a one year high of $29.99.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. Everbridge had a negative net margin of 17.10% and a negative return on equity of 29.44%. The company had revenue of $27.31 million during the quarter, compared to the consensus estimate of $26.41 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue was up 37.0% on a year-over-year basis. sell-side analysts anticipate that Everbridge, Inc. will post -0.55 EPS for the current year.
In other news, CFO Kenneth S. Goldman sold 11,141 shares of Everbridge stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $26.88, for a total transaction of $299,470.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider R William Burgess, Jr. sold 23,244 shares of Everbridge stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $22.56, for a total transaction of $524,384.64. Following the sale, the insider now owns 45,165 shares of the company’s stock, valued at approximately $1,018,922.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,051 shares of company stock valued at $2,073,584. Insiders own 41.40% of the company’s stock.
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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