AQR Capital Management LLC Lowers Stock Position in Eventbrite, Inc. (NYSE:EB)

AQR Capital Management LLC lessened its position in shares of Eventbrite, Inc. (NYSE:EB) by 62.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,384 shares of the company’s stock after selling 312,146 shares during the quarter. AQR Capital Management LLC owned approximately 0.20% of Eventbrite worth $921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EB. Principal Financial Group Inc. acquired a new stake in shares of Eventbrite during the 1st quarter valued at about $58,000. Quadrature Capital Ltd purchased a new position in Eventbrite during the first quarter worth approximately $64,000. ANTIPODES PARTNERS Ltd acquired a new stake in Eventbrite in the first quarter valued at approximately $70,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Eventbrite in the first quarter valued at approximately $102,000. Finally, Entropy Technologies LP acquired a new position in shares of Eventbrite during the 1st quarter worth approximately $115,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Eventbrite Stock Performance

NYSE:EB opened at $2.67 on Friday. Eventbrite, Inc. has a twelve month low of $2.51 and a twelve month high of $9.32. The company has a market cap of $259.30 million, a P/E ratio of -14.05 and a beta of 2.32. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.04. The company’s 50-day moving average price is $3.06 and its 200-day moving average price is $4.41.

Eventbrite (NYSE:EB) last released its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $84.55 million for the quarter, compared to analyst estimates of $86.15 million. Eventbrite had a negative net margin of 4.20% and a negative return on equity of 7.82%. During the same period last year, the company posted ($0.03) EPS. On average, sell-side analysts forecast that Eventbrite, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EB shares. Piper Sandler cut shares of Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $4.00 in a research note on Friday, August 9th. KeyCorp lowered shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. B. Riley reduced their price target on shares of 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 shares of Eventbrite from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, BWS Financial reiterated a “buy” rating and set a $7.00 price objective on shares of Eventbrite in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.58.

Insiders Place Their Bets

In related news, CTO Vivek Sagi sold 75,000 shares of the company’s stock in a transaction dated 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 owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction that occurred 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 sale, the chief technology officer now owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 628,152 shares of the company’s stock, valued at $1,903,300.56. The trade was a 0.00 % 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.

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.