Wellington Management Group LLP Boosts Stock Position in Eventbrite, Inc. (NYSE:EB)

Wellington Management Group LLP raised its position in shares of Eventbrite, Inc. (NYSE:EB) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,415,760 shares of the company’s stock after purchasing an additional 710,548 shares during the quarter. Wellington Management Group LLP owned 4.39% of Eventbrite worth $36,916,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EB. Swiss National Bank grew its stake in Eventbrite by 1.5% during the 3rd quarter. Swiss National Bank now owns 181,000 shares of the company’s stock valued at $1,785,000 after purchasing an additional 2,600 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Eventbrite by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 625,557 shares of the company’s stock worth $6,168,000 after buying an additional 18,289 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Eventbrite by 33.4% in the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after buying an additional 900,925 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Eventbrite by 94.5% in the third quarter. Acadian Asset Management LLC now owns 109,979 shares of the company’s stock worth $1,083,000 after buying an additional 53,425 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Eventbrite by 217.7% in the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after buying an additional 1,907 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Eventbrite Price Performance

Shares of Eventbrite stock opened at $4.86 on Monday. The business has a 50 day simple moving average of $5.18 and a two-hundred day simple moving average of $6.52. Eventbrite, Inc. has a 12 month low of $4.69 and a 12 month high of $11.90. The stock has a market capitalization of $471.95 million, a P/E ratio of -25.58 and a beta of 2.32. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.86 and a quick ratio of 1.86.

Eventbrite (NYSE:EB) last announced its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $86.25 million during the quarter, compared to analysts’ expectations of $85.26 million. Eventbrite had a negative return on equity of 10.00% and a negative net margin of 5.47%. As a group, analysts predict that Eventbrite, Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. KeyCorp reduced their price target on Eventbrite from $13.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Morgan Stanley reduced their price target on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. Piper Sandler reduced their price target on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Truist Financial reduced their price target on Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $12.00 price target on shares of Eventbrite in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.93.

Eventbrite Profile

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.