Eventbrite, Inc. (NYSE:EB) Position Lessened by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in shares of Eventbrite, Inc. (NYSE:EB) by 98.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,391 shares of the company’s stock after selling 3,302,617 shares during the period. Bank of America Corp DE’s holdings in Eventbrite were worth $126,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in Eventbrite by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,076 shares of the company’s stock valued at $209,000 after acquiring an additional 5,114 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Eventbrite by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 227,548 shares of the company’s stock valued at $765,000 after acquiring an additional 5,359 shares in the last quarter. Intech Investment Management LLC raised its stake in Eventbrite by 26.6% during the 4th quarter. Intech Investment Management LLC now owns 32,601 shares of the company’s stock valued at $110,000 after acquiring an additional 6,842 shares in the last quarter. Wells Fargo & Company MN raised its stake in Eventbrite by 26.7% during the 4th quarter. Wells Fargo & Company MN now owns 38,264 shares of the company’s stock valued at $129,000 after acquiring an additional 8,070 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Eventbrite by 4.5% during the 4th quarter. Ameriprise Financial Inc. now owns 237,387 shares of the company’s stock valued at $798,000 after acquiring an additional 10,144 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Eventbrite Stock Up 2.3%

Shares of EB stock opened at $2.47 on Tuesday. Eventbrite, Inc. has a 1 year low of $1.81 and a 1 year high of $5.92. The stock has a market cap of $233.26 million, a PE ratio of -27.39 and a beta of 2.06. The business’s fifty day moving average is $2.28 and its 200-day moving average is $2.80. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.56 and a current ratio of 1.56.

Eventbrite (NYSE:EB) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Eventbrite had a negative return on equity of 4.44% and a negative net margin of 2.42%. The company had revenue of $73.83 million for the quarter, compared to analysts’ expectations of $72.88 million. Equities analysts expect that Eventbrite, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $3.50 target price (down previously from $5.00) on shares of Eventbrite in a research note on Friday, February 28th. BWS Financial reiterated a “buy” rating and set a $7.00 price target on shares of Eventbrite in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.83.

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.