Eventbrite, Inc. (NYSE:EB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Eventbrite, Inc. (NYSE:EB) have been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.58.

A number of research analysts have recently commented on the company. Piper Sandler cut 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 report on Friday, August 9th. Truist Financial downgraded shares of Eventbrite from a “buy” rating to a “hold” rating in a report 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 cut their price objective on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, BWS Financial reissued a “buy” rating and set a $7.00 target price on shares of Eventbrite in a report on Wednesday.

Insider Transactions at Eventbrite

In other Eventbrite 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 completion of the sale, the chief technology officer now directly owns 495,464 shares in the company, valued at $1,704,396.16. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles Baker sold 20,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the transaction, the chief financial officer now directly owns 628,152 shares in the company, valued at $1,903,300.56. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Eventbrite by 151.8% during the 3rd quarter. Barclays PLC now owns 169,642 shares of the company’s stock valued at $462,000 after buying an additional 102,283 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Eventbrite by 61.2% during the third quarter. Public Employees Retirement System of Ohio now owns 56,712 shares of the company’s stock worth $155,000 after acquiring an additional 21,525 shares in the last quarter. State Street Corp lifted its holdings in shares of Eventbrite by 1.9% in the 3rd quarter. State Street Corp now owns 1,758,915 shares of the company’s stock worth $4,802,000 after acquiring an additional 32,210 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Eventbrite by 42.2% in the 3rd quarter. Quadrature Capital Ltd now owns 74,798 shares of the company’s stock worth $205,000 after acquiring an additional 22,192 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Eventbrite in the 3rd quarter valued at $85,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Eventbrite Trading Down 6.8 %

NYSE:EB opened at $3.51 on Monday. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.20. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.34. The firm’s 50 day moving average is $3.02 and its 200 day moving average is $4.04. The stock has a market capitalization of $336.83 million, a PE ratio of -38.94 and a beta of 2.29.

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.