Vivek Sagi Sells 75,000 Shares of Eventbrite, Inc. (NYSE:EB) Stock

Eventbrite, Inc. (NYSE:EB) CTO Vivek Sagi sold 75,000 shares of the business’s 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 completion of the sale, the chief technology officer now owns 495,464 shares in the company, valued at approximately $1,704,396.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Eventbrite Price Performance

Shares of Eventbrite stock opened at $3.14 on Thursday. The stock has a 50 day moving average price of $4.33 and a 200-day moving average price of $5.25. Eventbrite, Inc. has a one year low of $2.51 and a one year high of $10.40. The stock has a market cap of $304.94 million, a price-to-earnings ratio of -16.53 and a beta of 2.34. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.86 and a current ratio of 1.86.

Eventbrite (NYSE:EB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.00%. The company had revenue of $84.55 million during the quarter, compared to analyst estimates of $86.15 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities analysts expect that Eventbrite, Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

EB has been the topic of several research reports. Piper Sandler cut Eventbrite from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $4.00 in a report on Friday, August 9th. B. Riley reduced their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial downgraded Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BWS Financial restated a “buy” rating and issued a $7.00 price target on shares of Eventbrite in a research report on Friday, August 9th. Finally, Morgan Stanley lowered their price objective on shares of Eventbrite from $9.00 to $6.50 and set an “equal weight” rating for the company in a research report on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Eventbrite currently has an average rating of “Hold” and an average target price of $6.58.

Hedge Funds Weigh In On Eventbrite

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Eventbrite by 3.5% during the fourth quarter. BNP Paribas Financial Markets now owns 71,858 shares of the company’s stock valued at $601,000 after buying an additional 2,425 shares during the period. Rhumbline Advisers lifted its stake in shares of Eventbrite by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock worth $544,000 after acquiring an additional 3,829 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. bought a new position in Eventbrite in the 4th quarter valued at $33,000. Swiss National Bank lifted its position in shares of Eventbrite by 3.1% during the first quarter. Swiss National Bank now owns 159,300 shares of the company’s stock worth $873,000 after purchasing an additional 4,800 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Eventbrite by 18.6% during the fourth quarter. New York State Common Retirement Fund now owns 35,380 shares of the company’s stock valued at $296,000 after purchasing an additional 5,549 shares during the period. 91.64% of the stock is currently owned by institutional investors.

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.