In a recent transaction, John P. Di Leo, the Chief Revenue Officer of Everbridge, Inc. (NASDAQ:EVBG), sold 1,524 shares of the company's common stock. The sale, which took place on June 3, 2024, was executed at an average price of $34.77 per share, resulting in a total value of approximately $52,989.
The shares sold by Di Leo were part of a tax withholding obligation connected to the vesting of Restricted Stock Units (RSUs). According to the details provided in the transaction's footnotes, these shares were sold at varying prices ranging from $34.75 to $34.78. Di Leo has committed to providing full information regarding the number of shares sold at each price upon request.
Before the sale, Di Leo acquired 6,250 RSUs, which represent the right to receive one share of Everbridge common stock per unit. These RSUs were part of a vesting event that occurred on May 31, 2024. The transaction did not involve any monetary exchange, as it was related to the vesting of previously awarded RSUs.
Following the transactions, Di Leo's ownership in the company stands at 24,689 shares of common stock and 68,750 RSUs. Everbridge, Inc., headquartered in Burlington (NYSE:BURL), Massachusetts, specializes in services related to prepackaged software.
Investors often monitor insider transactions as they may provide insights into an executive's perspective on the company's current valuation and future prospects. The recent sale by Everbridge's Chief Revenue Officer will likely be of interest to current and potential shareholders as they evaluate their investment in the company.
InvestingPro Insights
As Everbridge Inc .'s (NASDAQ:EVBG) Chief Revenue Officer John P. Di Leo parts with a portion of his stock, investors are keen to understand the broader financial picture of the company. The recent insider trading activity coincides with some notable aspects of Everbridge's financial health and market performance.
InvestingPro data reveals that Everbridge currently holds a market capitalization of approximately $1.45 billion, which is reflective of investor sentiment and market reach. Despite a challenging period, the company has reported a gross profit margin of 70.92% over the last twelve months as of Q1 2024, indicating a strong ability to manage costs relative to revenue.
Additionally, the company has experienced a significant price uptick of 65.16% over the last six months, underscoring a positive trend in investor confidence. This is further supported by the fact that the stock is trading near its 52-week high, at 95.73% of this threshold.
InvestingPro Tips suggest that while Everbridge is trading at a high EBITDA valuation multiple and has not been profitable over the last twelve months, analysts predict the company will be profitable this year. Moreover, the company has a high shareholder yield and is expected to see net income growth this year. These factors may provide a level of reassurance to investors contemplating the company's future performance.
For those interested in a deeper dive into Everbridge's financial metrics and additional InvestingPro Tips, a visit to InvestingPro's Everbridge page is recommended. There are 9 additional tips available to subscribers, each offering strategic insights that could be crucial for making informed investment decisions. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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