Mirae Asset Global Investments Co. Ltd. Purchases 6,979 Shares of Everbridge, Inc. (NASDAQ:EVBG)

Posted by Defense World Staff on Aug 6th, 2023

Mirae Asset Global Investments Co. Ltd. lifted its position in Everbridge, Inc. (NASDAQ:EVBG – Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 375,367 shares of the technology company’s stock after buying an additional 6,979 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.93% of Everbridge worth $13,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EVBG. Vanguard Group Inc. lifted its stake in shares of Everbridge by 14.5% in the first quarter. Vanguard Group Inc. now owns 4,047,870 shares of the technology company’s stock worth $176,649,000 after buying an additional 511,847 shares in the last quarter. Norges Bank bought a new position in shares of Everbridge in the fourth quarter worth approximately $11,476,000. Washington Harbour Partners LP bought a new position in shares of Everbridge in the first quarter worth approximately $14,314,000. Armistice Capital LLC lifted its position in Everbridge by 41.8% during the fourth quarter. Armistice Capital LLC now owns 1,072,000 shares of the technology company’s stock valued at $31,710,000 after purchasing an additional 316,000 shares during the period. Finally, First Trust Advisors LP lifted its position in Everbridge by 61.9% during the first quarter. First Trust Advisors LP now owns 797,030 shares of the technology company’s stock valued at $34,782,000 after purchasing an additional 304,867 shares during the period. Institutional investors own 90.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Everbridge from $32.00 to $27.00 in a research report on Wednesday, May 10th. Stephens downgraded shares of Everbridge from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $41.00 to $34.00 in a research report on Friday, April 21st. Robert W. Baird lowered their price objective on shares of Everbridge from $34.00 to $28.00 in a research report on Wednesday, May 10th. Truist Financial lowered their price objective on shares of Everbridge from $32.00 to $27.00 in a research report on Wednesday, May 10th. Finally, StockNews.com assumed coverage on shares of Everbridge in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Everbridge has an average rating of “Hold” and a consensus target price of $32.89.

Insider Transactions at Everbridge

In related news, CFO Patrick Brickley sold 7,426 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $30.33, for a total transaction of $225,230.58. Following the completion of the transaction, the chief financial officer now directly owns 106,200 shares of the company’s stock, valued at $3,221,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Patrick Brickley sold 7,426 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $30.33, for a total transaction of $225,230.58. Following the completion of the transaction, the chief financial officer now directly owns 106,200 shares of the company’s stock, valued at $3,221,046. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Henshall bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $23.24 per share, with a total value of $464,800.00. Following the completion of the purchase, the director now directly owns 28,331 shares of the company’s stock, valued at approximately $658,412.44. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Everbridge Stock Up 0.2 %

EVBG opened at $28.84 on Friday. The firm’s 50 day simple moving average is $27.85 and its two-hundred day simple moving average is $29.54. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $1.18 billion, a PE ratio of -14.57, a PEG ratio of 3.43 and a beta of 0.85. Everbridge, Inc. has a 1-year low of $22.50 and a 1-year high of $42.90.

Everbridge (NASDAQ:EVBG – Get Free Report) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $108.27 million during the quarter, compared to analysts’ expectations of $106.39 million. Everbridge had a negative net margin of 12.90% and a negative return on equity of 3.52%. As a group, equities analysts forecast that Everbridge, Inc. will post 0.18 EPS for the current year.

About Everbridge

(Free Report)

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.