HHR Asset Management LLC increased its holdings in shares of Everbridge, Inc. (NASDAQ:EVBG – Get Rating) by 165.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,119 shares of the technology company’s stock after buying an additional 89,243 shares during the quarter. Everbridge accounts for about 1.1% of HHR Asset Management LLC’s portfolio, making the stock its 25th largest position. HHR Asset Management LLC’s holdings in Everbridge were worth $6,246,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in Everbridge by 419.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,173 shares of the technology company’s stock worth $79,000 after buying an additional 947 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Everbridge by 1,959.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 34,849 shares of the technology company’s stock valued at $2,346,000 after purchasing an additional 33,157 shares during the last quarter. PDT Partners LLC purchased a new stake in Everbridge during the 4th quarter valued at about $472,000. Tensile Capital Management LP purchased a new stake in Everbridge during the 4th quarter valued at about $11,775,000. Finally, Geode Capital Management LLC grew its stake in Everbridge by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 490,882 shares of the technology company’s stock valued at $33,051,000 after purchasing an additional 14,641 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.
Several analysts have weighed in on EVBG shares. Canaccord Genuity Group dropped their price target on Everbridge from $178.00 to $59.00 in a research note on Friday, February 25th. Raymond James dropped their price target on Everbridge from $80.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. Truist Financial downgraded Everbridge from a “buy” rating to a “hold” rating and dropped their price target for the company from $85.00 to $42.00 in a research note on Friday, February 25th. Stifel Nicolaus lowered their target price on Everbridge from $100.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, February 25th. Finally, Barclays lowered their target price on Everbridge from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, February 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.57.
Everbridge (NASDAQ:EVBG – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.16. The company had revenue of $100.38 million during the quarter, compared to analyst estimates of $98.82 million. Everbridge had a negative return on equity of 9.28% and a negative net margin of 23.82%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) earnings per share. Research analysts predict that Everbridge, Inc. will post -1.55 earnings per share for the current year.
In other news, CEO Vernon Irvin sold 794 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $43.11, for a total value of $34,229.34. Following the sale, the chief executive officer now directly owns 2,378 shares in the company, valued at $102,515.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Nigam sold 3,316 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $39.29, for a total value of $130,285.64. Following the completion of the sale, the insider now owns 15,140 shares in the company, valued at $594,850.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,839 shares of company stock valued at $195,628. Company insiders own 0.44% of the company’s stock.
Everbridge Company Profile (Get Rating)
Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events. Its SaaS-based CEM platform enables 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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