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

Eventbrite, Inc. (NYSE:EB - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 10,810,000 shares, an increase of 12.3% from the March 31st total of 9,630,000 shares. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is currently 5.9 days.

Analyst Ratings Changes

A number of research firms have recently commented on EB. Piper Sandler cut their price target on Eventbrite from $13.00 to $9.00 and set an "overweight" rating for the company in a report on Wednesday, February 28th. KeyCorp decreased their price target on Eventbrite from $13.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday. Truist Financial decreased their target price on shares of Eventbrite from $17.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, February 28th. Finally, Morgan Stanley decreased their price target on shares of Eventbrite from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $10.29.

Insiders Place Their Bets

In related news, CFO Charles Baker sold 20,000 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $5.52, for a total transaction of $110,400.00. Following the completion of the sale, the chief financial officer now owns 357,839 shares in the company, valued at $1,975,271.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.28% of the company's stock.

Institutional Investors Weigh In On Eventbrite

A number of large investors have recently modified their holdings of EB. Alberta Investment Management Corp purchased a new stake in shares of Eventbrite in the 3rd quarter worth about $1,744,000. Wellington Management Group LLP boosted its position in shares of Eventbrite by 43.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company's stock worth $36,533,000 after purchasing an additional 1,116,749 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Eventbrite by 94.5% in the 3rd quarter. Acadian Asset Management LLC now owns 109,979 shares of the company's stock worth $1,083,000 after buying an additional 53,425 shares during the last quarter. Invesco Ltd. increased its position in Eventbrite by 33.4% during the 3rd quarter. Invesco Ltd. now owns 3,600,139 shares of the company's stock valued at $35,497,000 after buying an additional 900,925 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Eventbrite by 55.7% in the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company's stock worth $40,524,000 after acquiring an additional 1,470,551 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

Eventbrite Trading Up 1.6 %

Eventbrite stock traded up $0.08 during trading hours on Wednesday, reaching $5.37. The company had a trading volume of 1,279,707 shares, compared to its average volume of 1,700,992. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99. Eventbrite has a 12-month low of $5.00 and a 12-month high of $11.90. The firm has a market cap of $546.53 million, a price-to-earnings ratio of -20.11 and a beta of 2.51. The company has a 50-day moving average price of $5.73 and a 200 day moving average price of $7.21.

Eventbrite (NYSE:EB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $87.76 million during the quarter, compared to the consensus estimate of $88.45 million. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. Equities analysts forecast that Eventbrite will post -0.12 earnings per share 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.

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