Russell Investments Group Ltd. Sells 2,362,146 Shares of Eventbrite, Inc. $EB

Key Points

• Russell Investments Group Ltd. drastically reduced its stake in Eventbrite by 97.7% in Q1, selling 2,362,146 shares and retaining only 55,323 shares worth approximately $117,000.
• Several other institutional investors have increased their holdings in Eventbrite, with a reported 91.64% of the stock currently owned by such investors and hedge funds.
• Eventbrite recently topped analysts' EPS estimates for the quarter, reporting ($0.02) EPS against the forecasted ($0.08) and earning revenue of $72.76 million exceeding expectations.

Russell Investments Group Ltd. lowered its holdings in Eventbrite, Inc. (NYSE:EB - Free Report) by 97.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,323 shares of the company's stock after selling 2,362,146 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Eventbrite worth $117,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EB. Charles Schwab Investment Management Inc. boosted its position in shares of Eventbrite by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 601,602 shares of the company's stock worth $1,269,000 after purchasing an additional 4,260 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Eventbrite by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,076 shares of the company's stock valued at $209,000 after acquiring an additional 5,114 shares during the last quarter. Pallas Capital Advisors LLC raised its position in Eventbrite by 52.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 16,928 shares of the company's stock worth $36,000 after purchasing an additional 5,803 shares during the period. ProShare Advisors LLC increased its holdings in Eventbrite by 47.2% during the fourth quarter. ProShare Advisors LLC now owns 22,392 shares of the company's stock valued at $75,000 after buying an additional 7,182 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Eventbrite by 12.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 64,012 shares of the company's stock worth $215,000 after buying an additional 7,300 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Eventbrite Stock Up 2.9%

NYSE EB traded up $0.08 during trading hours on Monday, reaching $2.71. 278,149 shares of the company traded hands, compared to its average volume of 838,475. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.19. Eventbrite, Inc. has a 12 month low of $1.80 and a 12 month high of $4.12. The company has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.42. The stock has a market capitalization of $261.03 million, a PE ratio of -12.30 and a beta of 2.03.

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $2.70 price objective on shares of Eventbrite in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Eventbrite presently has an average rating of "Moderate Buy" and a consensus target price of $4.40.

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.