Clearbridge Investments LLC Has $56.82 Million Stake in Everbridge, Inc. (NASDAQ:EVBG)

Clearbridge Investments LLC decreased its position in shares of Everbridge, Inc. (NASDAQ:EVBG) by 0.0% in the second quarter, Holdings Channel reports. The fund owned 417,510 shares of the technology company’s stock after selling 72 shares during the period. Clearbridge Investments LLC’s holdings in Everbridge were worth $56,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its position in Everbridge by 4.7% during the 2nd quarter. Moors & Cabot Inc. now owns 1,798 shares of the technology company’s stock worth $245,000 after acquiring an additional 81 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Everbridge by 4.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,506 shares of the technology company’s stock valued at $341,000 after buying an additional 116 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Everbridge by 2.1% during the second quarter. Raymond James Trust N.A. now owns 7,300 shares of the technology company’s stock valued at $993,000 after buying an additional 150 shares during the last quarter. Legal & General Group Plc raised its position in shares of Everbridge by 0.6% during the second quarter. Legal & General Group Plc now owns 25,749 shares of the technology company’s stock valued at $3,504,000 after buying an additional 152 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Everbridge by 4.3% during the second quarter. Principal Financial Group Inc. now owns 4,059 shares of the technology company’s stock valued at $552,000 after buying an additional 169 shares during the last quarter.

In other news, CAO Phillip E. Huff sold 2,913 shares of the stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $139.76, for a total transaction of $407,120.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ajay Nigam sold 500 shares of the stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $145.24, for a total transaction of $72,620.00. The disclosure for this sale can be found here. Insiders have sold 27,557 shares of company stock worth $4,111,530 over the last ninety days. Insiders own 0.44% of the company’s stock.

EVBG has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price objective on shares of Everbridge in a research report on Tuesday, August 10th. Raymond James upped their price objective on shares of Everbridge from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, August 10th. Stephens upped their price objective on shares of Everbridge from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, August 10th. Stifel Nicolaus upped their target price on shares of Everbridge from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, September 7th. Finally, Zacks Investment Research raised shares of Everbridge from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Tuesday, August 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Everbridge currently has an average rating of “Buy” and an average price target of $171.90.

Shares of Everbridge stock opened at $145.60 on Thursday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -50.38 and a beta of 0.75. Everbridge, Inc. has a 1-year low of $100.17 and a 1-year high of $178.98. The firm’s 50-day moving average price is $152.20 and its two-hundred day moving average price is $136.77.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings data on Monday, August 9th. The technology company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.26. The firm had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $83.92 million. Everbridge had a negative net margin of 33.07% and a negative return on equity of 12.98%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, equities research analysts predict that Everbridge, Inc. will post -1.58 EPS for the current year.

Everbridge Profile

Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organizations 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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Institutional Ownership by Quarter for Everbridge (NASDAQ:EVBG)

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