Virtus Investment Advisers Inc. Sells 2,343 Shares of Everbridge, Inc. (NASDAQ:EVBG)

Virtus Investment Advisers Inc. lessened its stake in Everbridge, Inc. (NASDAQ:EVBG) by 38.0% in the first quarter, HoldingsChannel reports. The firm owned 3,821 shares of the technology company’s stock after selling 2,343 shares during the period. Virtus Investment Advisers Inc.’s holdings in Everbridge were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Kennedy Capital Management LLC grew its position in shares of Everbridge by 2.3% during the 1st quarter. Kennedy Capital Management LLC now owns 46,961 shares of the technology company’s stock valued at $1,636,000 after acquiring an additional 1,070 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Everbridge during the 1st quarter valued at $639,000. Beryl Capital Management LLC bought a new stake in shares of Everbridge during the 1st quarter valued at $3,762,000. Blackstone Inc. bought a new stake in shares of Everbridge during the 1st quarter valued at $690,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Everbridge by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,173 shares of the technology company’s stock valued at $773,000 after acquiring an additional 1,370 shares during the period. Institutional investors own 89.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EVBG. StockNews.com began coverage on shares of Everbridge in a research note on Wednesday, July 24th. They set a “hold” rating on the stock. Robert W. Baird lifted their target price on shares of Everbridge from $29.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Everbridge in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.75.

Everbridge Stock Performance

Shares of EVBG stock remained flat at $35.00 on Wednesday. The company had a trading volume of 200 shares, compared to its average volume of 969,549. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average of $34.86 and a two-hundred day moving average of $32.66. The company has a market cap of $1.46 billion, a PE ratio of -22.44, a PEG ratio of 0.95 and a beta of 0.98. Everbridge, Inc. has a 52-week low of $18.50 and a 52-week high of $36.31.

Everbridge (NASDAQ:EVBG) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). The firm had revenue of $111.43 million for the quarter, compared to the consensus estimate of $111.90 million. Everbridge had a negative net margin of 11.67% and a positive return on equity of 5.26%. As a group, sell-side analysts predict that Everbridge, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Everbridge

In other Everbridge news, insider Bryan Reed Barney sold 3,276 shares of Everbridge stock in a transaction on Monday, July 1st. The stock was sold at an average price of $34.99, for a total transaction of $114,627.24. Following the completion of the sale, the insider now directly owns 18,569 shares of the company’s stock, valued at approximately $649,729.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.44% of the stock is currently owned by corporate insiders.

Everbridge Company Profile

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.