Short Interest in Eventbrite, Inc. (NYSE:EB) Drops By 17.0%

Eventbrite, Inc. (NYSE:EBGet Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 9,320,000 shares, a decrease of 17.0% from the February 29th total of 11,230,000 shares. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 5.8 days.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their target price on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Piper Sandler dropped their price objective on Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Truist Financial cut their target price on Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, B. Riley initiated coverage on Eventbrite in a research note on Friday, December 8th. They set a “buy” rating and a $13.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Read Our Latest Stock Report on Eventbrite

Insiders Place Their Bets

In related news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 357,839 shares of the company’s stock, valued at $1,975,271.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.28% of the stock is currently owned by insiders.

Institutional Trading of Eventbrite

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in shares of Eventbrite by 126.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,828 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares in the last quarter. Covestor Ltd lifted its position in Eventbrite by 217.7% during the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after buying an additional 1,907 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Eventbrite by 47.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,880 shares of the company’s stock worth $29,000 after buying an additional 1,569 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in shares of Eventbrite in the fourth quarter valued at about $33,000. Finally, UBS Group AG increased its position in shares of Eventbrite by 57.5% in the third quarter. UBS Group AG now owns 6,409 shares of the company’s stock valued at $38,000 after acquiring an additional 2,340 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Eventbrite Trading Down 1.6 %

EB traded down $0.09 during trading on Friday, reaching $5.48. 3,656,144 shares of the company’s stock were exchanged, compared to its average volume of 2,516,711. The company’s fifty day moving average price is $7.11 and its 200-day moving average price is $7.87. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a market capitalization of $558.25 million, a PE ratio of -20.30 and a beta of 2.50. Eventbrite has a fifty-two week low of $5.05 and a fifty-two week high of $11.90.

Eventbrite (NYSE:EBGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating 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 company had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. As a group, equities analysts forecast that Eventbrite will post -0.12 EPS for the current year.

About Eventbrite

(Get Free Report)

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.

Read More

Receive News & Ratings for Eventbrite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eventbrite and related companies with MarketBeat.com's FREE daily email newsletter.