Nantahala Capital Management LLC Buys Shares of 1,600,000 Eventbrite, Inc. (NYSE:EB)

Nantahala Capital Management LLC purchased a new position in Eventbrite, Inc. (NYSE:EB) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,600,000 shares of the company’s stock, valued at approximately $7,744,000. Nantahala Capital Management LLC owned 1.65% of Eventbrite at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Eventbrite by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,464 shares of the company’s stock valued at $5,396,000 after buying an additional 19,907 shares during the period. Alberta Investment Management Corp raised its holdings in shares of Eventbrite by 16.2% in the 4th quarter. Alberta Investment Management Corp now owns 205,505 shares of the company’s stock worth $1,718,000 after purchasing an additional 28,591 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in Eventbrite during the fourth quarter valued at approximately $1,467,000. Wellington Management Group LLP boosted its holdings in Eventbrite by 19.2% during 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. Finally, Pinnacle Associates Ltd. bought a new stake in Eventbrite during the first quarter worth approximately $1,065,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. B. Riley cut their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Truist Financial lowered Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Friday, August 9th. BWS Financial reiterated a “buy” rating and issued a $7.00 target price on shares of Eventbrite in a report on Friday, August 9th. Finally, KeyCorp lowered shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.58.

Insider Transactions at Eventbrite

In related news, 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 sale, the chief technology officer now directly owns 495,464 shares in the company, valued at $1,704,396.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eventbrite news, CTO Vivek Sagi sold 75,000 shares of the 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 transaction, the chief technology officer now owns 495,464 shares in the company, valued at $1,704,396.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the transaction, the chief financial officer now directly owns 628,152 shares in the company, valued at approximately $1,903,300.56. The disclosure for this sale can be found here. 21.46% of the stock is currently owned by company insiders.

Eventbrite Stock Down 2.7 %

Eventbrite stock opened at $2.74 on Tuesday. The firm’s 50 day moving average price is $3.47 and its two-hundred day moving average price is $4.59. The firm has a market cap of $265.61 million, a PE ratio of -14.39 and a beta of 2.33. Eventbrite, Inc. has a twelve month low of $2.51 and a twelve month high of $9.88. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.95 and a current ratio of 1.95.

Eventbrite (NYSE:EB) last released its quarterly earnings data 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 firm had revenue of $84.55 million during 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 quarter last year, the firm earned ($0.03) earnings per share. On average, research analysts predict that Eventbrite, Inc. will post -0.24 EPS for the current fiscal year.

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.