Eventbrite (NYSE:EB) Hits New 12-Month Low at $8.09

Eventbrite, Inc. (NYSE:EBGet Rating)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $8.09 and last traded at $8.12, with a volume of 2003 shares trading hands. The stock had previously closed at $8.15.

Analyst Ratings Changes

Several analysts have recently weighed in on EB shares. Piper Sandler started coverage on shares of Eventbrite in a research report on Thursday, July 14th. They set an “overweight” rating and a $13.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Eventbrite from $15.00 to $14.00 in a research report on Tuesday, June 28th. Truist Financial reduced their price target on shares of Eventbrite to $23.00 in a research report on Friday, June 3rd. KeyCorp started coverage on shares of Eventbrite in a research report on Wednesday, July 13th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley reduced their price target on shares of Eventbrite from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, June 3rd.

Eventbrite Stock Performance

The company has a market capitalization of $799.06 million, a P/E ratio of -10.91 and a beta of 2.55. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $10.81 and its two-hundred day simple moving average is $12.57.

Hedge Funds Weigh In On Eventbrite

A number of institutional investors have recently modified their holdings of EB. Cadian Capital Management LP raised its stake in shares of Eventbrite by 119.5% in the fourth quarter. Cadian Capital Management LP now owns 3,937,843 shares of the company’s stock worth $68,676,000 after acquiring an additional 2,143,539 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Eventbrite by 107.3% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,753,458 shares of the company’s stock worth $40,669,000 after buying an additional 1,425,250 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Eventbrite during the fourth quarter worth approximately $20,645,000. Vanguard Group Inc. raised its stake in shares of Eventbrite by 10.9% during the first quarter. Vanguard Group Inc. now owns 7,972,046 shares of the company’s stock worth $117,747,000 after buying an additional 781,763 shares during the last quarter. Finally, Portsea Asset Management LLP raised its stake in shares of Eventbrite by 8.3% during the fourth quarter. Portsea Asset Management LLP now owns 6,521,937 shares of the company’s stock worth $113,743,000 after buying an additional 497,579 shares during the last quarter. 89.35% of the stock is owned by institutional investors.

Eventbrite Company Profile

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Eventbrite, Inc operates a self-service ticketing and experience technology platform that serves 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, increase reach, and drive ticket sales.

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