Eventbrite, Inc. (NYSE:EB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Eventbrite, Inc. (NYSE:EB – Get Rating) by 85.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,254 shares of the company’s stock after selling 845,127 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Eventbrite were worth $883,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EB. Vanguard Group Inc. lifted its position in Eventbrite by 10.9% in the first quarter. Vanguard Group Inc. now owns 7,972,046 shares of the company’s stock valued at $117,747,000 after buying an additional 781,763 shares during the last quarter. Marathon Asset Management Ltd increased its position in shares of Eventbrite by 13.2% during the second quarter. Marathon Asset Management Ltd now owns 2,970,141 shares of the company’s stock worth $30,503,000 after acquiring an additional 347,205 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Eventbrite during the second quarter worth $3,493,000. Renaissance Technologies LLC increased its position in shares of Eventbrite by 198.4% during the second quarter. Renaissance Technologies LLC now owns 480,100 shares of the company’s stock worth $4,931,000 after acquiring an additional 319,200 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of Eventbrite by 109.8% during the second quarter. Cubist Systematic Strategies LLC now owns 529,018 shares of the company’s stock worth $5,433,000 after acquiring an additional 276,910 shares during the period. Institutional investors and hedge funds own 85.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EB. Piper Sandler cut their price objective on Eventbrite from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Morgan Stanley cut their price objective on Eventbrite from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, November 4th.

Eventbrite Stock Performance

NYSE:EB opened at $8.09 on Monday. The firm has a market capitalization of $798.40 million, a PE ratio of -10.37 and a beta of 2.47. The business’s fifty day moving average price is $6.68 and its 200 day moving average price is $7.34. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.73 and a quick ratio of 1.73. Eventbrite, Inc. has a 12 month low of $5.30 and a 12 month high of $16.16.

Eventbrite (NYSE:EB – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.05). The business had revenue of $67.47 million during the quarter, compared to analysts’ expectations of $67.48 million. Eventbrite had a negative net margin of 30.61% and a negative return on equity of 47.40%. On average, sell-side analysts anticipate that Eventbrite, Inc. will post -0.76 earnings per share for the current fiscal year.

About Eventbrite

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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.