Cwm LLC Reduces Position in Eventbrite, Inc. (NYSE:EB)

Cwm LLC lowered its position in Eventbrite, Inc. (NYSE:EB) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,536 shares of the company’s stock after selling 16,542 shares during the quarter. Cwm LLC owned approximately 0.28% of Eventbrite worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Eventbrite by 217.7% during the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after buying an additional 1,907 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in Eventbrite during the 3rd quarter worth approximately $108,000. Oak Thistle LLC purchased a new position in shares of Eventbrite in the 4th quarter valued at approximately $105,000. SG Americas Securities LLC acquired a new position in shares of Eventbrite in the fourth quarter valued at approximately $128,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Eventbrite by 27.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,642 shares of the company’s stock worth $164,000 after purchasing an additional 4,281 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Eventbrite Price Performance

Shares of NYSE EB opened at $5.20 on Friday. The company’s fifty day moving average is $6.02 and its two-hundred day moving average is $7.32. 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 $529.21 million, a P/E ratio of -19.24 and a beta of 2.51. Eventbrite, Inc. has a one year low of $5.00 and a one year high of $11.90.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. The firm had revenue of $87.76 million for the quarter, compared to the consensus estimate of $88.45 million. Analysts forecast that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Eventbrite

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 transaction of $110,400.00. Following the completion of the transaction, the chief financial officer now directly owns 357,839 shares of the company’s stock, valued at $1,975,271.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 17.28% of the company’s stock.

Eventbrite Company Profile

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.