ClearBridge Investments Focuses on Software Stock Everbridge, Inc. (EVBG)

ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” second quarter 2022 investor letter. A copy of this letter can be downloaded here. In the second quarter, the fund underperformed its benchmark index. Stocks from IT, healthcare, industrials, and consumer discretionary posted losses during the quarter, however stocks from consumer staples and financials sectors contributed to the performance of the fund. To know about the fund’s best picks in 2022, please check its top 5 holdings.

In the letter, ClearBridge Investments discussed its Select Strategy portfolio. The firm holds stocks like Everbridge, Inc. (NASDAQ:EVBG). Everbridge, Inc. (NASDAQ:EVBG) is a software application providing company, headquartered in Burlington, Massachusetts. The stock of Everbridge, Inc. (NASDAQ:EVBG) closed at $32.67 per share on August 3, 2022. One-month return of Everbridge, Inc. (NASDAQ:EVBG) was 6.52% and its shares lost 77.34% of their value over the last 52 weeks. Everbridge, Inc. (NASDAQ:EVBG) has a market capitalization of $1.292 billion.

Here is what ClearBridge Select Strategy specifically said about Everbridge, Inc. (NASDAQ:EVBG) in its second-quarter investor letter:

“Purchases of Everbridge, Inc. (NASDAQ:EVBG) (critical response) and LivePerson (LPSN) (customer service) provide exposure to catalyst-rich software companies we have followed for some time, each with a growing activist presence pushing for improvement and potential sale of the business.”

Photo by Danial Igdery on Unsplash

Even though ClearBridge Select Strategy invested in Everbridge, Inc. (NASDAQ:EVBG) the share is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Everbridge, Inc. (NASDAQ:EVBG) at the end of the first quarter and 33 in the previous quarter.

We discussed Everbridge, Inc. (NASDAQ:EVBG) in another article and shared Alta Fox Capital’s views about the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.