Eventbrite, Inc. (NYSE:EB) Given Average Rating of “Hold” by Brokerages

Shares of Eventbrite, Inc. (NYSE:EB) have earned an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.58.

A number of equities analysts recently weighed in on the company. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th. B. Riley decreased their target price on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BWS Financial reissued a “buy” rating and issued a $7.00 price target on shares of Eventbrite in a report on Thursday, October 3rd. Truist Financial lowered shares of Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Piper Sandler downgraded shares of Eventbrite from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $9.00 to $4.00 in a research report on Friday, August 9th.

Eventbrite Trading Down 2.9 %

Shares of NYSE:EB opened at $2.90 on Thursday. Eventbrite has a 52-week low of $2.51 and a 52-week high of $9.20. The business has a 50-day moving average price of $2.96 and a 200-day moving average price of $4.30. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. The stock has a market cap of $281.15 million, a price-to-earnings ratio of -15.24 and a beta of 2.32.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $84.55 million during the quarter, compared to the consensus estimate of $86.15 million. Eventbrite had a negative return on equity of 7.82% and a negative net margin of 4.20%. During the same period in the previous year, the company posted ($0.03) earnings per share. Equities analysts predict that Eventbrite will post -0.24 EPS for the current year.

Insider Transactions at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.03, for a total value of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.03, for a total value of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at $1,903,300.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Vivek Sagi sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the sale, the chief technology officer now owns 495,464 shares of the company’s stock, valued at $1,704,396.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.46% of the company’s stock.

Hedge Funds Weigh In On Eventbrite

Several large investors have recently modified their holdings of EB. Edmond DE Rothschild Holding S.A. boosted its holdings in Eventbrite by 47.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock valued at $28,868,000 after acquiring an additional 1,700,600 shares during the period. Wellington Management Group LLP lifted its position in shares of Eventbrite by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after purchasing an additional 710,548 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Eventbrite by 125.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,978,823 shares of the company’s stock worth $9,573,000 after acquiring an additional 1,102,809 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in Eventbrite during the second quarter worth approximately $7,744,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Eventbrite by 674.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after acquiring an additional 848,461 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

About Eventbrite

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.