Bridgefront Capital LLC Takes Position in Eventbrite, Inc. (NYSE:EB)

Bridgefront Capital LLC bought a new stake in Eventbrite, Inc. (NYSE:EB – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,438 shares of the company’s stock, valued at approximately $185,000.

Other hedge funds have also made changes to their positions in the company. First Trust Advisors LP purchased a new stake in Eventbrite during the 3rd quarter worth $18,834,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Eventbrite by 299.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,358,800 shares of the company’s stock worth $8,262,000 after buying an additional 1,018,700 shares during the period. Vanguard Group Inc. increased its stake in Eventbrite by 10.9% during the 1st 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 period. Cadian Capital Management LP increased its stake in Eventbrite by 9.4% during the 3rd quarter. Cadian Capital Management LP now owns 8,010,707 shares of the company’s stock worth $48,705,000 after buying an additional 685,772 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Eventbrite by 85.9% during the 3rd quarter. Renaissance Technologies LLC now owns 892,600 shares of the company’s stock worth $5,427,000 after buying an additional 412,500 shares during the period. Hedge funds and other institutional investors own 85.05% of the company’s stock.

Eventbrite Price Performance

Shares of EB stock opened at $8.29 on Friday. The firm has a market cap of $818.14 million, a P/E ratio of -14.80 and a beta of 2.58. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.89 and a quick ratio of 1.89. Eventbrite, Inc. has a 1-year low of $5.30 and a 1-year high of $15.74. The firm has a fifty day moving average of $8.34 and a two-hundred day moving average of $7.22.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Eventbrite in a research note on Wednesday, March 1st. Piper Sandler dropped their price target on shares of Eventbrite from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. Finally, Morgan Stanley raised their price objective on shares of Eventbrite from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd.

Eventbrite Company Profile

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Eventbrite, Inc provides event management services encompassing online ticketing, event hosting, organization, promotion, and advertising. It offers virtual events, online webinars, online classes, virtual runs, online zumba classes, and online yoga. The company was founded by Alan Michael Braverman, Renaud Visage, Kevin E.