Eventbrite, Inc. (NYSE:EB) Sees Large Drop in Short Interest

Eventbrite, Inc. (NYSE:EB) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 7,290,000 shares, a decline of 9.1% from the September 15th total of 8,020,000 shares. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is presently 3.6 days.

Insider Buying and Selling at Eventbrite

In related news, CTO Vivek Sagi sold 75,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total value of $258,000.00. Following the completion of the transaction, the chief technology officer now owns 495,464 shares in the company, valued at $1,704,396.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 approximately $1,704,396.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the sale, the chief financial officer now directly owns 628,152 shares in the company, valued at $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in Eventbrite during the 1st quarter worth $58,000. Quadrature Capital Ltd purchased a new stake in Eventbrite during the 1st quarter valued at about $64,000. ANTIPODES PARTNERS Ltd purchased a new stake in Eventbrite during the 1st quarter valued at about $70,000. Public Employees Retirement System of Ohio acquired a new stake in Eventbrite in the 1st quarter valued at about $102,000. Finally, Entropy Technologies LP purchased a new position in Eventbrite in the 1st quarter worth approximately $115,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EB. B. Riley reduced their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Truist Financial cut Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Piper Sandler lowered Eventbrite from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $9.00 to $4.00 in a research report on Friday, August 9th. BWS Financial reaffirmed a “buy” rating and set a $7.00 target price on shares of Eventbrite in a report on Thursday, October 3rd. Finally, KeyCorp cut shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Eventbrite currently has an average rating of “Hold” and a consensus target price of $6.58.

Eventbrite Price Performance

Shares of Eventbrite stock traded down $0.11 on Thursday, reaching $2.84. The company’s stock had a trading volume of 676,118 shares, compared to its average volume of 1,766,838. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $275.81 million, a P/E ratio of -14.95 and a beta of 2.32. The stock has a 50-day moving average price of $2.97 and a 200-day moving average price of $4.35. Eventbrite has a 52-week low of $2.51 and a 52-week high of $9.20.

Eventbrite (NYSE:EB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The company had revenue of $84.55 million during the quarter, compared to analyst estimates of $86.15 million. Eventbrite had a negative net margin of 4.20% and a negative return on equity of 7.82%. During the same quarter in the previous year, the firm earned ($0.03) EPS. Analysts expect that Eventbrite will post -0.24 EPS for the current year.

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.