Russell Investments Group Ltd. Sells 71,853 Shares of Everbridge Inc (EVBG)

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Russell Investments Group Ltd. lessened its holdings in Everbridge Inc (NASDAQ:EVBG) by 41.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,796 shares of the technology company’s stock after selling 71,853 shares during the quarter. Russell Investments Group Ltd.’s holdings in Everbridge were worth $4,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Everbridge by 50.1% in the 1st quarter. Wells Fargo & Company MN now owns 109,309 shares of the technology company’s stock valued at $4,001,000 after purchasing an additional 36,474 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Everbridge in the 1st quarter valued at about $1,834,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Everbridge in the 1st quarter valued at about $9,720,000. Schwab Charles Investment Management Inc. increased its stake in shares of Everbridge by 12.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 83,403 shares of the technology company’s stock valued at $3,053,000 after purchasing an additional 9,157 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Everbridge by 0.6% in the 1st quarter. Northern Trust Corp now owns 222,382 shares of the technology company’s stock valued at $8,140,000 after purchasing an additional 1,316 shares in the last quarter. 89.16% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on EVBG. BidaskClub upgraded Everbridge from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 6th. Canaccord Genuity lifted their price objective on Everbridge from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, June 7th. Northland Securities reiterated a “buy” rating and issued a $55.00 price objective on shares of Everbridge in a report on Tuesday, August 7th. KeyCorp lifted their price objective on Everbridge from $45.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, June 15th. Finally, Zacks Investment Research upgraded Everbridge from a “sell” rating to a “hold” rating in a report on Friday, August 10th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $50.56.

In other news, CEO Jaime Wallace Ellertson sold 381,607 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $49.55, for a total transaction of $18,908,626.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kenneth S. Goldman sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $51.29, for a total value of $487,255.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 733,757 shares of company stock worth $37,040,714. 11.20% of the stock is currently owned by insiders.

EVBG stock opened at $62.26 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.74. Everbridge Inc has a 12-month low of $23.16 and a 12-month high of $63.00.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Monday, August 6th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.04. Everbridge had a negative return on equity of 64.53% and a negative net margin of 31.96%. The company had revenue of $35.80 million for the quarter, compared to analysts’ expectations of $34.18 million. During the same period in the previous year, the firm posted ($0.05) EPS. Everbridge’s revenue was up 43.2% compared to the same quarter last year. sell-side analysts predict that Everbridge Inc will post -1.54 earnings per share for the current year.

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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Institutional Ownership by Quarter for Everbridge (NASDAQ:EVBG)

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