Everbridge Sees Unusually High Options Volume (NASDAQ:EVBG)

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Everbridge, Inc. (NASDAQ:EVBG) was the target of unusually large options trading activity on Friday. Stock investors acquired 4,068 call options on the company. This is an increase of 1,021% compared to the typical volume of 363 call options.

In other Everbridge news, CEO David Alexander Meredith sold 24,624 shares of Everbridge stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $142.86, for a total value of $3,517,784.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vernon Irvin sold 12,500 shares of Everbridge stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $150.06, for a total transaction of $1,875,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,439 shares of company stock valued at $9,025,483. Corporate insiders own 0.44% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in EVBG. Vanguard Group Inc. increased its position in shares of Everbridge by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,433,046 shares of the technology company’s stock worth $467,169,000 after purchasing an additional 172,330 shares during the last quarter. Sylebra Capital Ltd increased its position in shares of Everbridge by 12.3% in the 3rd quarter. Sylebra Capital Ltd now owns 2,007,931 shares of the technology company’s stock worth $303,278,000 after purchasing an additional 220,553 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Everbridge by 34.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,181,447 shares of the technology company’s stock worth $160,770,000 after purchasing an additional 299,447 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Everbridge by 50.3% in the 3rd quarter. Macquarie Group Ltd. now owns 1,163,165 shares of the technology company’s stock worth $175,685,000 after purchasing an additional 389,386 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Everbridge by 29.6% in the 3rd quarter. Alliancebernstein L.P. now owns 838,632 shares of the technology company’s stock worth $126,667,000 after purchasing an additional 191,692 shares during the last quarter.

A number of equities analysts have weighed in on EVBG shares. Canaccord Genuity decreased their price target on shares of Everbridge from $200.00 to $178.00 and set a “buy” rating on the stock in a report on Friday. Stephens lifted their price target on shares of Everbridge from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, November 10th. Barclays lowered shares of Everbridge from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $185.00 to $90.00 in a report on Friday. Zacks Investment Research lowered shares of Everbridge from a “buy” rating to a “hold” rating in a report on Tuesday, November 2nd. Finally, Robert W. Baird lowered shares of 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 report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.46.

Everbridge stock opened at $63.00 on Friday. Everbridge has a 12-month low of $57.58 and a 12-month high of $178.98. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -21.43 and a beta of 0.77. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.59 and a quick ratio of 2.59. The firm’s fifty day moving average price is $135.03 and its 200 day moving average price is $139.06.

Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Tuesday, November 9th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business posted ($0.33) EPS. Analysts forecast that Everbridge will post -1.48 earnings per share for the current fiscal year.

Everbridge Company 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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