Gabelli Funds LLC Purchases Shares of 454,829 Everbridge, Inc. (NASDAQ:EVBG)

Gabelli Funds LLC purchased a new stake in Everbridge, Inc. (NASDAQ:EVBG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 454,829 shares of the technology company’s stock, valued at approximately $15,842,000. Gabelli Funds LLC owned approximately 1.09% of Everbridge as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Everbridge by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 5,960,756 shares of the technology company’s stock valued at $144,906,000 after buying an additional 163,180 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Everbridge in the fourth quarter worth about $757,000. Kent Lake Capital LLC bought a new position in shares of Everbridge in the fourth quarter worth about $6,078,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Everbridge in the fourth quarter worth about $1,809,000. Finally, Invenomic Capital Management LP bought a new position in shares of Everbridge in the fourth quarter worth about $2,724,000. 89.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Everbridge in a research note on Wednesday. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Everbridge in a research note on Monday, May 13th. Finally, Robert W. Baird boosted their target price on shares of Everbridge from $29.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.75.

Insider Buying and Selling at Everbridge

In other Everbridge news, insider Bryan Reed Barney sold 3,276 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $34.99, for a total value of $114,627.24. Following the completion of the sale, the insider now owns 18,569 shares of the company’s stock, valued at $649,729.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.44% of the company’s stock.

Everbridge Stock Performance

Shares of EVBG remained flat at $35.00 on Friday. 200 shares of the company were exchanged, compared to its average volume of 969,549. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $1.46 billion, a PE ratio of -22.44, a P/E/G ratio of 0.95 and a beta of 0.98. The stock’s 50 day simple moving average is $34.85 and its 200 day simple moving average is $32.40. Everbridge, Inc. has a twelve month low of $18.50 and a twelve month high of $36.31.

Everbridge (NASDAQ:EVBG) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.21). Everbridge had a negative net margin of 11.67% and a positive return on equity of 5.26%. The firm had revenue of $111.43 million during the quarter, compared to the consensus estimate of $111.90 million. Equities research analysts predict that Everbridge, Inc. will post 0.78 EPS for the current year.

About Everbridge

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.