Everbridge, Inc. (NASDAQ:EVBG) Stake Boosted by State of New Jersey Common Pension Fund D

Posted by MarketBeat News on Aug 2nd, 2022

State of New Jersey Common Pension Fund D grew its stake in shares of Everbridge, Inc. (NASDAQ:EVBG – Get Rating) by 136.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,528 shares of the technology company’s stock after purchasing an additional 33,194 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.15% of Everbridge worth $2,511,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Everbridge by 75.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 700 shares of the technology company’s stock valued at $47,000 after purchasing an additional 300 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Everbridge by 571.0% during the first quarter. Signaturefd LLC now owns 1,181 shares of the technology company’s stock valued at $52,000 after purchasing an additional 1,005 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Everbridge by 419.0% during the fourth 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 period. Xponance Inc. boosted its position in shares of Everbridge by 10.2% during the first quarter. Xponance Inc. now owns 4,597 shares of the technology company’s stock worth $201,000 after buying an additional 424 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Everbridge by 37.8% during the fourth quarter. HighTower Advisors LLC now owns 3,163 shares of the technology company’s stock worth $210,000 after buying an additional 868 shares during the period. 97.63% of the stock is owned by institutional investors.

Everbridge Stock Performance

EVBG opened at $26.07 on Tuesday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -10.91 and a beta of 0.91. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.08 and a quick ratio of 2.08. Everbridge, Inc. has a 1-year low of $24.10 and a 1-year high of $167.40. The business has a 50 day moving average price of $31.95 and a two-hundred day moving average price of $40.21.

Everbridge (NASDAQ:EVBG – Get Rating) last released its earnings results on Monday, May 9th. The technology company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.56. The firm had revenue of $100.38 million during the quarter, compared to the consensus estimate 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 firm posted ($0.13) earnings per share. Research analysts predict that Everbridge, Inc. will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EVBG shares. Barclays reiterated a “maintains” rating on shares of Everbridge in a research report on Tuesday, July 26th. Stifel Nicolaus reduced their price objective on Everbridge from $40.00 to $32.00 in a research report on Monday, July 25th. Finally, StockNews.com downgraded Everbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Everbridge has a consensus rating of “Hold” and a consensus price target of $73.43.

Insider Activity

In related news, insider Ajay Nigam sold 3,316 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $39.29, for a total value of $130,285.64. Following the completion of the transaction, the insider now owns 15,140 shares in the company, valued at approximately $594,850.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.44% of the stock is currently owned by company insiders.

Everbridge Profile

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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.