Palogic Value Management L.P. Increases Position in Eventbrite, Inc. $EB

Key Points

• Palogic Value Management L.P. has increased its stake in Eventbrite, Inc. by 87.7%, now owning 1,125,987 shares valued at approximately $2.38 million.
• Eventbrite reported earnings of ($0.02) per share, surpassing estimates, with revenues of $72.76 million for the quarter, exceeding the expectations of $71.67 million.
• Morgan Stanley has set a price target of $2.70 for Eventbrite shares, with the stock currently holding a "Moderate Buy" rating and a consensus price target of $4.40.

Palogic Value Management L.P. increased its stake in shares of Eventbrite, Inc. (NYSE:EB - Free Report) by 87.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,125,987 shares of the company's stock after acquiring an additional 525,987 shares during the period. Palogic Value Management L.P. owned about 1.19% of Eventbrite worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its holdings in Eventbrite by 6.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,343,284 shares of the company's stock worth $7,873,000 after acquiring an additional 145,846 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Eventbrite by 24.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,016,634 shares of the company's stock worth $6,776,000 after acquiring an additional 393,964 shares during the period. Two Sigma Advisers LP grew its holdings in Eventbrite by 58.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,312,100 shares of the company's stock worth $4,409,000 after acquiring an additional 484,800 shares during the period. Two Sigma Investments LP grew its holdings in Eventbrite by 151.7% during the fourth quarter. Two Sigma Investments LP now owns 1,228,930 shares of the company's stock worth $4,129,000 after acquiring an additional 740,717 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Eventbrite by 10.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781,138 shares of the company's stock worth $1,648,000 after acquiring an additional 72,752 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley set a $2.70 price target on Eventbrite in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Eventbrite currently has an average rating of "Moderate Buy" and a consensus price target of $4.40.

Eventbrite Price Performance

Eventbrite stock traded up $0.04 during midday trading on Tuesday, reaching $2.69. The company had a trading volume of 566,682 shares, compared to its average volume of 847,569. The company has a market capitalization of $259.97 million, a P/E ratio of -12.25 and a beta of 2.03. Eventbrite, Inc. has a 12-month low of $1.80 and a 12-month high of $4.12. The firm's fifty day simple moving average is $2.55 and its 200-day simple moving average is $2.44. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.51 and a quick ratio of 1.51.

Eventbrite (NYSE:EB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.06. The firm had revenue of $72.76 million for the quarter, compared to analyst estimates of $71.67 million. Eventbrite had a negative net margin of 6.93% and a negative return on equity of 11.91%. Eventbrite has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Eventbrite, Inc. will post -0.12 EPS for the current year.

Eventbrite 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.