Palogic Value Management L.P. Sells 450,000 Shares of Eventbrite, Inc. (NYSE:EB)

Palogic Value Management L.P. cut its holdings in Eventbrite, Inc. (NYSE:EB) by 42.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,000 shares of the company’s stock after selling 450,000 shares during the quarter. Palogic Value Management L.P. owned 0.62% of Eventbrite worth $2,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EB. Whetstone Capital Advisors LLC lifted its position in Eventbrite by 74.6% in the 3rd quarter. Whetstone Capital Advisors LLC now owns 1,432,555 shares of the company’s stock valued at $3,911,000 after acquiring an additional 612,173 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Eventbrite by 22.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,197,438 shares of the company’s stock valued at $5,999,000 after buying an additional 405,318 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Eventbrite during the 3rd quarter valued at $756,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Eventbrite by 48.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 708,386 shares of the company’s stock valued at $2,380,000 after buying an additional 232,353 shares during the last quarter. Finally, Algert Global LLC raised its stake in Eventbrite by 28.5% during the 3rd quarter. Algert Global LLC now owns 739,768 shares of the company’s stock valued at $2,020,000 after buying an additional 164,080 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Eventbrite Trading Up 0.6 %

NYSE:EB opened at $2.34 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $220.96 million, a price-to-earnings ratio of -25.94 and a beta of 2.24. Eventbrite, Inc. has a one year low of $2.11 and a one year high of $6.02. The business has a fifty day moving average price of $3.07 and a 200-day moving average price of $3.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BWS Financial reiterated a “buy” rating and set a $7.00 target price on shares of Eventbrite in a research note on Monday, March 3rd. B. Riley reiterated a “neutral” rating and set a $3.50 target price (down from $5.00) on shares of Eventbrite in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.40.

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.