Eventbrite, Inc. (NYSE:EB) Short Interest Down 9.1% in September

Eventbrite, Inc. (NYSE:EB) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 7,290,000 shares, a decrease of 9.1% from the September 15th total of 8,020,000 shares. Based on an average trading volume of 2,040,000 shares, the days-to-cover ratio is presently 3.6 days.

Eventbrite Trading Down 3.7 %

Shares of NYSE EB traded down $0.11 during trading hours on Thursday, reaching $2.84. The stock had a trading volume of 676,118 shares, compared to its average volume of 1,766,838. Eventbrite has a 52-week low of $2.51 and a 52-week high of $9.20. The firm has a market cap of $275.81 million, a price-to-earnings ratio of -14.95 and a beta of 2.32. The business’s fifty day moving average price is $2.97 and its two-hundred day moving average price is $4.35. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.04.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. Eventbrite had a negative return on equity of 7.82% and a negative net margin of 4.20%. The firm had revenue of $84.55 million for the quarter, compared to analyst estimates of $86.15 million. During the same quarter last year, the firm posted ($0.03) earnings per share. Analysts expect that Eventbrite will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EB has been the subject of a number of recent analyst reports. B. Riley dropped their price target on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler cut Eventbrite from an “overweight” rating to a “neutral” rating and cut their target price for the company from $9.00 to $4.00 in a research note on Friday, August 9th. Truist Financial lowered Eventbrite from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. BWS Financial restated a “buy” rating and set a $7.00 price objective on shares of Eventbrite in a report on Thursday, October 3rd. Finally, KeyCorp lowered Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eventbrite currently has an average rating of “Hold” and an average target price of $6.58.

Insider Activity

In other news, CTO Vivek Sagi sold 75,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.44, for a total value of $258,000.00. Following the sale, the chief technology officer now directly owns 495,464 shares in the company, valued at $1,704,396.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Charles Baker sold 20,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the sale, the chief financial officer now owns 628,152 shares in the company, valued at approximately $1,903,300.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the transaction, the chief technology officer now directly owns 495,464 shares of the company’s stock, valued at $1,704,396.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.46% of the company’s stock.

Hedge Funds Weigh In On Eventbrite

A number of large investors have recently bought and sold shares of EB. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Eventbrite by 47.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock valued at $28,868,000 after acquiring an additional 1,700,600 shares during the period. Wellington Management Group LLP grew its stake in Eventbrite by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after purchasing an additional 710,548 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Eventbrite by 125.9% in the second quarter. Acadian Asset Management LLC now owns 1,978,823 shares of the company’s stock worth $9,573,000 after purchasing an additional 1,102,809 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Eventbrite during the second quarter valued at about $7,744,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Eventbrite by 674.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after buying an additional 848,461 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

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.