Lord Abbett & CO. LLC Grows Holdings in Everbridge Inc (EVBG)

Lord Abbett & CO. LLC raised its stake in shares of Everbridge Inc (NASDAQ:EVBG) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,315,241 shares of the technology company’s stock after purchasing an additional 244,438 shares during the period. Lord Abbett & CO. LLC’s holdings in Everbridge were worth $48,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EVBG. Teacher Retirement System of Texas bought a new position in shares of Everbridge during the 4th quarter valued at about $234,000. UBS Asset Management Americas Inc. bought a new position in shares of Everbridge during the 4th quarter valued at about $247,000. MetLife Investment Advisors LLC bought a new position in shares of Everbridge during the 4th quarter valued at about $248,000. Oppenheimer & Co. Inc. bought a new position in shares of Everbridge during the 4th quarter valued at about $297,000. Finally, California Public Employees Retirement System bought a new position in shares of Everbridge during the 1st quarter valued at about $375,000. 88.04% of the stock is owned by institutional investors and hedge funds.

Shares of Everbridge opened at $51.60 on Thursday, Marketbeat.com reports. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.50. Everbridge Inc has a 12 month low of $21.56 and a 12 month high of $52.35. The stock has a market capitalization of $1.39 billion, a P/E ratio of -90.53 and a beta of 0.96.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings results on Monday, May 7th. The technology company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.03. Everbridge had a negative net margin of 23.01% and a negative return on equity of 42.59%. The firm had revenue of $30.52 million during the quarter, compared to the consensus estimate of $29.61 million. During the same quarter last year, the firm earned ($0.15) EPS. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. sell-side analysts forecast that Everbridge Inc will post -1.39 earnings per share for the current year.

In related news, CFO Kenneth S. Goldman sold 9,500 shares of the stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $35.46, for a total value of $336,870.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Robert W. Hughes sold 5,784 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $47.70, for a total transaction of $275,896.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,581 shares of company stock valued at $1,755,898. 11.20% of the stock is owned by insiders.

Several research analysts have commented on EVBG shares. Credit Suisse Group increased their price objective on shares of Everbridge from $30.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. William Blair reissued a “buy” rating on shares of Everbridge in a report on Thursday, February 15th. KeyCorp reissued a “buy” rating and set a $39.00 price objective (up previously from $37.00) on shares of Everbridge in a report on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and set a $38.00 price objective (up previously from $33.00) on shares of Everbridge in a report on Thursday, February 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective (up previously from $32.00) on shares of Everbridge in a report on Thursday, February 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $43.50.

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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