Eventbrite, Inc. (NYSE:EB) Receives Average Rating of “Hold” from Analysts

Eventbrite, Inc. (NYSE:EB) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.58.

Several research firms have weighed in on EB. Truist Financial lowered Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. KeyCorp cut shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. BWS Financial restated a “buy” rating and set a $7.00 price objective on shares of Eventbrite in a research note on Wednesday, November 13th. B. Riley cut their target price on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $4.00 in a research report on Friday, August 9th.

Eventbrite Stock Down 6.9 %

Shares of Eventbrite stock opened at $3.50 on Monday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.56 and a current ratio of 1.56. Eventbrite has a 52-week low of $2.51 and a 52-week high of $9.20. The firm has a market cap of $339.08 million, a PE ratio of -38.89 and a beta of 2.29. The business’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $4.02.

Insider Transactions at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the sale, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Vivek Sagi sold 75,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $3.44, for a total value of $258,000.00. Following the completion of the transaction, the chief technology officer now directly owns 495,464 shares in the company, valued at approximately $1,704,396.16. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eventbrite

A number of hedge funds have recently bought and sold shares of EB. Rhumbline Advisers boosted its holdings in Eventbrite by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock valued at $544,000 after purchasing an additional 3,829 shares during the period. Swiss National Bank grew its position in Eventbrite by 3.1% during the first quarter. Swiss National Bank now owns 159,300 shares of the company’s stock worth $873,000 after buying an additional 4,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Eventbrite by 24.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,855 shares of the company’s stock worth $140,000 after acquiring an additional 5,664 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Eventbrite by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company’s stock valued at $64,000 after acquiring an additional 8,307 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Eventbrite during the 3rd quarter valued at $25,000. 91.64% of the stock is owned by institutional investors.

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.