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New York State Common Retirement Fund Increases Stock Holdings in Everbridge, Inc. (NASDAQ:EVBG)

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New York State Common Retirement Fund boosted its position in shares of Everbridge, Inc. (NASDAQ:EVBG) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,879 shares of the technology company’s stock after acquiring an additional 3,627 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Everbridge worth $8,289,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EVBG. Simon Quick Advisors LLC boosted its holdings in Everbridge by 59.8% during the 3rd quarter. Simon Quick Advisors LLC now owns 580 shares of the technology company’s stock valued at $87,000 after acquiring an additional 217 shares during the period. SG Americas Securities LLC purchased a new position in Everbridge during the 2nd quarter valued at about $120,000. M&G Investment Management Ltd. purchased a new position in Everbridge during the 2nd quarter valued at about $205,000. Cpwm LLC purchased a new position in Everbridge during the 2nd quarter valued at about $207,000. Finally, Procyon Private Wealth Partners LLC purchased a new position in Everbridge during the 3rd quarter valued at about $208,000.

In other news, Director Bruns H. Grayson purchased 10,000 shares of the business’s stock in a transaction on Tuesday, December 14th. The shares were bought at an average price of $67.08 per share, with a total value of $670,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Alexander Meredith sold 24,624 shares of Everbridge stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $142.86, for a total value of $3,517,784.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,669 shares of company stock worth $6,952,870. 0.44% of the stock is currently owned by corporate insiders.

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Everbridge from $125.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, December 13th. Stephens increased their price target on Everbridge from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, November 10th. Truist Securities reduced their price target on Everbridge from $185.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, December 27th. Bank of America lowered Everbridge from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $175.00 to $100.00 in a research report on Friday, December 10th. Finally, Needham & Company LLC lowered Everbridge from a “buy” rating to a “hold” rating in a research report on Friday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.27.

Shares of NASDAQ EVBG opened at $67.88 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.59 and a current ratio of 2.59. Everbridge, Inc. has a fifty-two week low of $57.58 and a fifty-two week high of $178.98. The firm has a market capitalization of $2.62 billion, a PE ratio of -23.09 and a beta of 0.65. The stock’s 50-day simple moving average is $109.48 and its 200-day simple moving average is $133.65.

Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Tuesday, November 9th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.62) by $0.67. The company had revenue of $96.75 million for the quarter, compared to analyst estimates of $94.31 million. Everbridge had a negative return on equity of 12.68% and a negative net margin of 31.91%. During the same quarter in the previous year, the company posted ($0.33) earnings per share. On average, sell-side analysts forecast that Everbridge, Inc. will post -1.5 earnings per share for the current fiscal 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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