Everbridge, Inc. (NASDAQ:EVBG) Chief Product Officer Barney Bryan Reed recently sold 3,276 shares of company stock, according to a new SEC filing. The total value of the shares sold amounted to approximately $114,635, with the transactions executed at weighted average prices ranging from $34.9900 to $34.9950.
The sale, which took place on July 1, 2024, was part of Reed's (OTC:REED) tax withholding obligations related to the vesting of restricted stock units (RSUs). Following this sale, Reed's direct ownership in Everbridge stands at 18,569 shares.
In addition to the sale, the filing also disclosed that Reed had acquired 6,250 shares of Everbridge common stock on June 30, 2024, through the vesting of RSUs. However, these shares were not part of an open market transaction and therefore carried no monetary value in the context of the filing.
Everbridge, headquartered in Burlington (NYSE:BURL), Massachusetts, specializes in services and software for critical event management and enterprise safety applications. The company has been a key player in the technology sector, particularly in the prepackaged software industry.
Investors often monitor insider transactions like these for insights into the company's performance and the confidence level of its executives. The recent activity by Reed provides a glimpse into the stock dealings of one of Everbridge's top executives and may be of interest to current and potential shareholders.
In other recent news, Everbridge, Inc. announced the appointment of Pamela Larson as its new Chief Security Officer for North America. Larson, with over 20 years of experience in security risk advisory and operational resilience, will be responsible for guiding North American enterprises on security and resilience strategy, risk assessment, and compliance. Her previous roles include positions at Twilio (NYSE:TWLO), Wells Fargo Bank, and Bank of the West, contributing to her extensive expertise in physical security, complex investigations, and crisis management.
Tracy Reinhold, the Global Chief Security Officer, will oversee Larson's work. Reinhold, who served in the FBI for 22 years, lauded Larson's track record in managing comprehensive corporate security programs and her ability to enhance organizational integrity and trust. Larson, holding a Master of Public Administration in Criminal Justice from The University of Colorado, Denver, has expressed her dedication to leveraging technology to improve security measures and operational resilience.
This development is part of Everbridge's commitment to empowering enterprises and government organizations to manage critical events effectively. These updates are among the recent developments in the company.
InvestingPro Insights
Everbridge's market dynamics offer a mixed picture, as reflected in the recent insider transactions and InvestingPro data. The company, with a market capitalization of approximately $1.46 billion, is trading at a high EBITDA valuation multiple, indicating that investors may expect significant growth or have a high valuation of the company's future prospects. Despite not being profitable over the last twelve months, analysts predict the company will turn a profit this year, which could be driving investor optimism.
An InvestingPro Tip highlights the company's high shareholder yield, which could be attracting investors looking for companies that return value to shareholders. Additionally, the company's net income is expected to grow this year, which may be a contributing factor to the stock trading near its 52-week high, at 96.39% of the peak value. The revenue growth remains modest at 2.77% over the last twelve months as of Q1 2024, but the company has demonstrated substantial EBITDA growth of 146.57% during the same period, showcasing potential operational efficiency improvements.
For those interested in more detailed analysis and additional insights, there are several more InvestingPro Tips available for Everbridge, which can be accessed through the dedicated page at Investing.com/pro/EVBG. For a limited time, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, enhancing your investment research with valuable data and expert insights.
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