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

Shares of Eventbrite, Inc. (NYSE:EB) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.58.

Several equities research analysts have commented on EB shares. Piper Sandler downgraded shares of Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $4.00 in a report on Friday, August 9th. BWS Financial reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a report on Friday, August 9th. KeyCorp lowered shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Truist Financial lowered Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, B. Riley decreased their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Insiders Place Their Bets

In related news, CTO Vivek Sagi sold 75,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $3.44, for a total transaction of $258,000.00. Following the transaction, the chief technology officer now owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CTO Vivek Sagi sold 75,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the completion of the sale, the chief technology officer now directly owns 495,464 shares in the company, valued at approximately $1,704,396.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles Baker sold 20,000 shares of the firm’s 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 transaction, the chief financial officer now owns 628,152 shares in the company, valued at $1,903,300.56. The disclosure for this sale can be found here. 21.46% of the stock is owned by insiders.

Institutional Trading of Eventbrite

A number of institutional investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. lifted its stake in Eventbrite by 47.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock worth $28,868,000 after acquiring an additional 1,700,600 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Eventbrite during the 2nd quarter valued at about $7,744,000. Acadian Asset Management LLC boosted its stake 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 valued at $9,573,000 after purchasing an additional 1,102,809 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Eventbrite by 674.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after buying an additional 848,461 shares during the period. Finally, Wellington Management Group LLP raised its stake in Eventbrite by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after buying an additional 710,548 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Eventbrite Trading Down 1.4 %

Shares of EB stock opened at $2.90 on Friday. Eventbrite has a 52-week low of $2.51 and a 52-week high of $10.14. The company has a 50-day simple moving average of $3.77 and a two-hundred day simple moving average of $4.70. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $281.63 million, a price-to-earnings ratio of -15.26 and a beta of 2.33.

Eventbrite (NYSE:EB) last released its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $84.55 million for the quarter, compared to analysts’ expectations 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 business posted ($0.03) EPS. Research analysts anticipate that Eventbrite will post -0.24 EPS for the current fiscal year.

Eventbrite Company 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.