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

Eventbrite, Inc. (NYSE:EB)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.00 and last traded at $5.06, with a volume of 215632 shares changing hands. The stock had previously closed at $5.21.

Analysts Set New Price Targets

Several research firms recently weighed in on EB. Truist Financial reduced their target price on Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler dropped their price target on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Morgan Stanley dropped their price target on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Eventbrite presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Eventbrite Stock Down 0.8 %

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 business has a 50 day simple moving average of $6.50 and a two-hundred day simple moving average of $7.52.

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

Insider Activity

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction on Friday, March 15th. The stock was sold at an average price of $5.52, for a total value of $110,400.00. Following the transaction, the chief financial officer now directly owns 357,839 shares in the company, valued at approximately $1,975,271.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.28% of the stock is owned by insiders.

Institutional Trading of Eventbrite

Several hedge funds and other institutional investors have recently modified their holdings of EB. Alberta Investment Management Corp acquired a new stake in shares of Eventbrite in the third quarter worth about $1,744,000. Wellington Management Group LLP increased its stake in shares of Eventbrite by 43.1% in the third quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock worth $36,533,000 after purchasing an additional 1,116,749 shares during the period. Acadian Asset Management LLC increased its stake in shares of Eventbrite by 94.5% in the third quarter. Acadian Asset Management LLC now owns 109,979 shares of the company’s stock worth $1,083,000 after purchasing an additional 53,425 shares during the period. Invesco Ltd. increased its stake in Eventbrite by 33.4% during the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after acquiring an additional 900,925 shares during the period. Finally, American Century Companies Inc. increased its stake in Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after acquiring an additional 1,470,551 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.