Eventbrite (NYSE:EB) Shares Down 8.2%

Eventbrite Inc (NYSE:EB) fell 8.2% on Monday . The company traded as low as $19.72 and last traded at $19.75, 687,545 shares traded hands during mid-day trading. A decline of 15% from the average session volume of 805,491 shares. The stock had previously closed at $21.51.

A number of research firms have recently weighed in on EB. Zacks Investment Research downgraded shares of Eventbrite from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. ValuEngine raised shares of Eventbrite from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, SunTrust Banks set a $20.00 price objective on shares of Eventbrite and gave the company a “hold” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.50.

The business’s 50 day moving average is $19.05 and its 200-day moving average is $17.66. The firm has a market capitalization of $1.82 billion, a P/E ratio of -13.62 and a beta of 2.19. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.07.

Eventbrite (NYSE:EB) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). The firm had revenue of $82.10 million during the quarter, compared to the consensus estimate of $76.49 million. Eventbrite had a negative net margin of 21.24% and a negative return on equity of 15.65%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned ($1.24) earnings per share. Research analysts forecast that Eventbrite Inc will post -0.89 EPS for the current fiscal year.

In related news, insider Samantha Harnett sold 7,361 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $18.01, for a total value of $132,571.61. Also, CTO Patrick David Poels sold 25,627 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $18.41, for a total transaction of $471,793.07. Insiders own 19.61% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY acquired a new position in Eventbrite in the third quarter valued at $252,000. Millennium Management LLC lifted its holdings in Eventbrite by 394.6% in the third quarter. Millennium Management LLC now owns 19,681 shares of the company’s stock valued at $348,000 after buying an additional 15,702 shares during the period. Vista Equity Partners Management LLC lifted its holdings in Eventbrite by 24.4% in the third quarter. Vista Equity Partners Management LLC now owns 1,626,731 shares of the company’s stock valued at $28,809,000 after buying an additional 318,561 shares during the period. Barclays PLC lifted its holdings in Eventbrite by 276.5% in the third quarter. Barclays PLC now owns 213,879 shares of the company’s stock valued at $3,788,000 after buying an additional 157,077 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Eventbrite by 317.6% in the third quarter. Point72 Asset Management L.P. now owns 66,636 shares of the company’s stock valued at $1,180,000 after buying an additional 50,679 shares during the period. Institutional investors and hedge funds own 56.23% of the company’s stock.

Eventbrite Company Profile (NYSE:EB)

Eventbrite, Inc operates a ticketing and event technology platform 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, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

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