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

Eventbrite, Inc. (NYSE:EB)’s share price reached 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 trading hands. The stock had previously closed at $5.21.

Analysts Set New Price Targets

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

Eventbrite Trading Up 1.2 %

The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $524.63 million, a P/E ratio of -19.07 and a beta of 2.51. The business has a 50 day moving average price of $6.37 and a 200 day moving average price of $7.47.

Eventbrite (NYSE:EB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (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 business had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. Analysts anticipate that Eventbrite, Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling

In related news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the completion of the sale, the chief financial officer now directly owns 357,839 shares of the company’s stock, valued at approximately $1,975,271.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eventbrite

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Eventbrite by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,053,495 shares of the company’s stock worth $67,327,000 after acquiring an additional 151,727 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Eventbrite by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after acquiring an additional 710,548 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Eventbrite during the 4th quarter worth approximately $149,000. Barclays PLC boosted its holdings in shares of Eventbrite by 257.3% in the 4th quarter. Barclays PLC now owns 248,786 shares of the company’s stock valued at $2,080,000 after buying an additional 179,152 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Eventbrite by 5.7% in the 4th quarter. Nuveen Asset Management LLC now owns 2,712,786 shares of the company’s stock valued at $22,679,000 after buying an additional 145,140 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

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.