Federated Hermes Inc. Has $5.45 Million Stock Holdings in Eventbrite, Inc. (NYSE:EB)

Federated Hermes Inc. decreased its position in shares of Eventbrite, Inc. (NYSE:EB) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 652,004 shares of the company’s stock after selling 17,073 shares during the period. Federated Hermes Inc.’s holdings in Eventbrite were worth $5,451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd raised its stake in shares of Eventbrite by 217.7% during the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after purchasing an additional 1,907 shares in the last quarter. Oak Thistle LLC bought a new position in Eventbrite during the fourth quarter valued at approximately $105,000. ANTIPODES PARTNERS Ltd acquired a new stake in Eventbrite in the third quarter valued at approximately $108,000. SG Americas Securities LLC bought a new stake in Eventbrite in the fourth quarter worth approximately $128,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Eventbrite by 27.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 19,642 shares of the company’s stock worth $164,000 after purchasing an additional 4,281 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Eventbrite

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

Eventbrite Price Performance

NYSE EB opened at $5.20 on Friday. The stock has a 50-day simple moving average of $6.02 and a 200 day simple moving average of $7.32. Eventbrite, Inc. has a twelve month low of $5.00 and a twelve month high of $11.90. The stock has a market capitalization of $529.21 million, a PE ratio of -19.26 and a beta of 2.51. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.99 and a current ratio of 1.99.

Eventbrite (NYSE:EB) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. The company had revenue of $87.76 million during the quarter, compared to analyst estimates of $88.45 million. Research analysts anticipate that Eventbrite, Inc. will post -0.12 EPS for the current 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.