Eventbrite (NYSE:EB) Shares Up 5.3%

Shares of Eventbrite, Inc. (NYSE:EB - Get Free Report) rose 5.3% on Tuesday . The stock traded as high as $5.98 and last traded at $5.92. Approximately 410,055 shares traded hands during trading, a decline of 76% from the average daily volume of 1,719,926 shares. The stock had previously closed at $5.62.

Analyst Upgrades and Downgrades

EB has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Eventbrite from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, February 28th. Morgan Stanley dropped their price objective on Eventbrite from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler dropped their price objective on Eventbrite from $13.00 to $9.00 and set an "overweight" rating for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Eventbrite Stock Up 4.4 %

The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $597.98 million, a P/E ratio of -21.74 and a beta of 2.51. The firm has a 50-day simple moving average of $6.74 and a 200 day simple moving average of $7.64.

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

Insider Buying and Selling

In related news, CFO Charles Baker sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was 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 of the company's stock, valued at $1,975,271.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eventbrite

Hedge funds have recently added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC lifted its holdings in shares of Eventbrite by 4.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company's stock valued at $308,000 after purchasing an additional 1,271 shares in the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Eventbrite by 5.4% in the first quarter. First Republic Investment Management Inc. now owns 24,868 shares of the company's stock valued at $367,000 after purchasing an additional 1,280 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Eventbrite by 13.9% in the first quarter. Centaurus Financial Inc. now owns 10,645 shares of the company's stock valued at $157,000 after purchasing an additional 1,300 shares in the last quarter. Tudor Investment Corp Et Al lifted its holdings in shares of Eventbrite by 1.1% in the third quarter. Tudor Investment Corp Et Al now owns 139,216 shares of the company's stock valued at $1,373,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its holdings in shares of Eventbrite by 47.4% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,880 shares of the company's stock valued at $29,000 after purchasing an additional 1,569 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

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.