Eventbrite (NYSE:EB) Sets New 12-Month Low at $5.00

Eventbrite, Inc. (NYSE:EB)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.00 and last traded at $5.06, with a volume of 215632 shares traded. The stock had previously closed at $5.21.

Analyst Upgrades and Downgrades

EB has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Truist Financial reduced their price target on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley reduced their price target on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eventbrite currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Eventbrite Stock Down 0.8 %

The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. The company has a 50 day simple moving average of $6.50 and a two-hundred day simple moving average of $7.52.

Eventbrite (NYSE:EB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $87.76 million during the quarter, compared to the consensus estimate of $88.45 million. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. On average, sell-side analysts expect that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $5.52, for a total value of $110,400.00. Following the completion of the sale, the chief financial officer now directly owns 357,839 shares in the company, valued at $1,975,271.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 17.28% of the company’s stock.

Institutional Trading of Eventbrite

A number of hedge funds and other institutional investors have recently bought and sold shares of EB. Vanguard Group Inc. increased its stake in shares of Eventbrite by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 8,053,495 shares of the company’s stock valued at $67,327,000 after buying an additional 151,727 shares during the period. Invesco Ltd. increased its stake in shares of Eventbrite by 2.2% during the first quarter. Invesco Ltd. now owns 5,084,727 shares of the company’s stock valued at $75,104,000 after buying an additional 110,587 shares during the period. Wellington Management Group LLP increased its stake in shares of Eventbrite by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after buying an additional 710,548 shares during the period. American Century Companies Inc. boosted its position in Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after purchasing an additional 1,470,551 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Eventbrite by 54.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company’s stock valued at $29,823,000 after purchasing an additional 1,259,000 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.