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

by · The Cerbat Gem

Eventbrite, Inc. (NYSE:EB – Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 7,290,000 shares, a decline of 9.1% from the September 15th total of 8,020,000 shares. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is currently 3.6 days.

Insider Activity at Eventbrite

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

Institutional Trading of Eventbrite

A number of hedge funds have recently made changes to their positions in EB. SG Americas Securities LLC increased its holdings in shares of Eventbrite by 192.4% during the 3rd quarter. SG Americas Securities LLC now owns 75,130 shares of the company’s stock worth $205,000 after acquiring an additional 49,434 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in shares of Eventbrite in the second quarter valued at $7,744,000. Point72 Asset Management L.P. raised its position in shares of Eventbrite by 57.7% in the second quarter. Point72 Asset Management L.P. now owns 48,586 shares of the company’s stock valued at $235,000 after purchasing an additional 17,786 shares during the period. Algert Global LLC lifted its stake in shares of Eventbrite by 54.4% during the 2nd quarter. Algert Global LLC now owns 575,688 shares of the company’s stock worth $2,786,000 after buying an additional 202,763 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Eventbrite during the 2nd quarter worth about $273,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Eventbrite Stock Down 3.7 %

Shares of NYSE:EB traded down $0.11 during midday trading on Thursday, hitting $2.84. The stock had a trading volume of 676,118 shares, compared to its average volume of 1,766,838. The company has a market cap of $275.81 million, a P/E ratio of -14.95 and a beta of 2.32. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.20. The business’s 50-day simple moving average is $2.97 and its 200-day simple moving average is $4.35. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04.

Eventbrite (NYSE:EB – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $84.55 million during the quarter, compared to the consensus estimate of $86.15 million. Eventbrite had a negative net margin of 4.20% and a negative return on equity of 7.82%. During the same quarter last year, the firm posted ($0.03) EPS. On average, sell-side analysts forecast that Eventbrite will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EB shares. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $4.00 in a research note on Friday, August 9th. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. BWS Financial reaffirmed a “buy” rating and set a $7.00 price target on shares of Eventbrite in a research note on Thursday, October 3rd. Truist Financial downgraded shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, B. Riley reduced their target price on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.58.

Check Out Our Latest Research Report on EB

Eventbrite Company Profile

(Get Free Report)

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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