Everbridge, Inc. (NASDAQ:EVBG) saw unusually large options trading on Friday. Stock traders acquired 4,068 call options on the company. This represents an increase of approximately 1,021% compared to the average daily volume of 363 call options.
In related news, SVP Elliot J. Mark sold 1,372 shares of the stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $142.87, for a total transaction of $196,017.64. The sale 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 the 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 90 days, insiders have sold 62,439 shares of company stock valued at $9,025,483. 0.44% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of EVBG. Macquarie Group Ltd. increased its stake in Everbridge by 50.3% in the 3rd quarter. Macquarie Group Ltd. now owns 1,163,165 shares of the technology company’s stock valued at $175,685,000 after buying an additional 389,386 shares during the period. JPMorgan Chase & Co. grew its stake in Everbridge by 34.0% during the second quarter. JPMorgan Chase & Co. now owns 1,181,447 shares of the technology company’s stock worth $160,770,000 after buying an additional 299,447 shares during the period. Lord Abbett & CO. LLC raised its holdings in Everbridge by 76.8% in the third quarter. Lord Abbett & CO. LLC now owns 513,191 shares of the technology company’s stock valued at $77,512,000 after acquiring an additional 222,972 shares in the last quarter. Sylebra Capital Ltd increased its stake in Everbridge by 12.3% during the third quarter. Sylebra Capital Ltd now owns 2,007,931 shares of the technology company’s stock valued at $303,278,000 after purchasing an additional 220,553 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Everbridge by 29.6% during the third quarter. Alliancebernstein L.P. now owns 838,632 shares of the technology company’s stock valued at $126,667,000 after purchasing an additional 191,692 shares during the last quarter.
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Shares of NASDAQ EVBG traded down $53.57 during trading hours on Friday, hitting $61.80. 252,590 shares of the stock were exchanged, compared to its average volume of 457,919. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 1.65. Everbridge has a 12 month low of $103.28 and a 12 month high of $178.98. The company has a market cap of $2.38 billion, a PE ratio of -21.24 and a beta of 0.77. The firm has a fifty day moving average price of $136.82 and a 200-day moving average price of $139.44.
Everbridge (NASDAQ:EVBG) last announced its quarterly earnings results on Tuesday, November 9th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.67. Everbridge had a negative net margin of 31.91% and a negative return on equity of 12.68%. During the same quarter in the prior year, the firm earned ($0.33) EPS. As a group, equities analysts anticipate that Everbridge will post -1.48 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on EVBG shares. Needham & Company LLC lowered Everbridge from a “buy” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus downgraded Everbridge from a “buy” rating to a “hold” rating and cut their target price for the stock from $185.00 to $100.00 in a research note on Friday. Wells Fargo & Company initiated coverage on Everbridge in a research note on Monday, November 22nd. They issued an “equal weight” rating and a $125.00 price objective on the stock. Northland Securities cut shares of Everbridge from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Robert W. Baird cut Everbridge from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $175.00 to $95.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $141.46.
About Everbridge
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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Read More: Everbridge Target of Unusually Large Options Trading (NASDAQ:EVBG)