Timpani Capital Management LLC Purchases 7,345 Shares of Everbridge Inc (NASDAQ:EVBG)

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Timpani Capital Management LLC boosted its stake in shares of Everbridge Inc (NASDAQ:EVBG) by 25.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,967 shares of the technology company’s stock after purchasing an additional 7,345 shares during the period. Timpani Capital Management LLC owned 0.11% of Everbridge worth $2,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EVBG. Strs Ohio bought a new position in shares of Everbridge in the 1st quarter worth about $30,000. Bank of Montreal Can boosted its position in Everbridge by 281.6% during the fourth quarter. Bank of Montreal Can now owns 706 shares of the technology company’s stock valued at $40,000 after buying an additional 521 shares during the period. Advisor Group Inc. boosted its position in Everbridge by 32.3% during the first quarter. Advisor Group Inc. now owns 1,193 shares of the technology company’s stock valued at $90,000 after buying an additional 291 shares during the period. SG Americas Securities LLC purchased a new stake in Everbridge during the first quarter valued at about $104,000. Finally, First Mercantile Trust Co. purchased a new stake in shares of Everbridge during the first quarter worth about $120,000. 96.93% of the stock is owned by hedge funds and other institutional investors.

Shares of EVBG opened at $83.33 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.42 and a quick ratio of 2.42. The company has a market capitalization of $2.77 billion, a PE ratio of -58.27 and a beta of 0.77. Everbridge Inc has a fifty-two week low of $41.94 and a fifty-two week high of $87.77.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Monday, May 6th. The technology company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.09. Everbridge had a negative net margin of 30.93% and a negative return on equity of 52.04%. The firm had revenue of $42.82 million during the quarter, compared to analyst estimates of $42.23 million. During the same quarter in the previous year, the business posted ($0.17) EPS. Everbridge’s revenue was up 40.3% on a year-over-year basis. As a group, equities analysts expect that Everbridge Inc will post -1.41 EPS for the current year.

EVBG has been the subject of several research analyst reports. Stephens restated a “buy” rating and issued a $74.00 price objective on shares of Everbridge in a report on Monday, April 29th. BidaskClub upgraded shares of Everbridge from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 8th. SunTrust Banks raised their target price on shares of Everbridge to $73.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. Credit Suisse Group lifted their price target on shares of Everbridge from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Finally, Robert W. Baird lifted their target price on shares of Everbridge from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Everbridge has an average rating of “Buy” and a consensus target price of $76.00.

In related news, CEO Jaime Wallace Ellertson sold 277,000 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $81.45, for a total transaction of $22,561,650.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Totton sold 21,875 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $72.57, for a total transaction of $1,587,468.75. The disclosure for this sale can be found here. Insiders sold 354,432 shares of company stock worth $28,432,354 in the last quarter. Company insiders own 2.20% of the company’s stock.

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Everbridge Company Profile

Everbridge, Inc operates as a software company in the United States and internationally. The company's Critical Event Management, a software as a service based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification that enables enterprises and governmental entities to send notifications to individuals or groups to keep them informed before, during, and after natural or man-made disasters, and other emergencies; Safety Connection that enables organizations to send notifications based on last known location of an individual; Incident Management that enables organizations to automate workflows and make their communications relevant; and IT Alerting that enables IT professionals to alert and communicate with members of their teams during an IT incident or outage.

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Institutional Ownership by Quarter for Everbridge (NASDAQ:EVBG)

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