Eventbrite (NYSE:EB) Trading 4.2% Higher

Eventbrite, Inc. (NYSE:EB) shares traded up 4.2% on Tuesday . The stock traded as high as $9.98 and last traded at $9.95. 443,795 shares were traded during trading, a decline of 66% from the average session volume of 1,289,647 shares. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Eventbrite from $11.00 to $13.00 in a report on Friday, July 14th. TheStreet upgraded shares of Eventbrite from a “d” rating to a “c-” rating in a research report on Friday, August 4th. Morgan Stanley upped their price target on shares of Eventbrite from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Eventbrite from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Eventbrite Price Performance

The stock has a 50 day moving average of $10.36 and a 200-day moving average of $8.91. The company has a market cap of $1.01 billion, a PE ratio of -30.55 and a beta of 2.64. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.91 and a current ratio of 1.91.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. Eventbrite had a negative return on equity of 19.89% and a negative net margin of 11.06%. The firm had revenue of $78.91 million during the quarter, compared to analyst estimates of $78.74 million. Equities analysts predict that Eventbrite, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Vivek Sagi sold 100,568 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $11.24, for a total transaction of $1,130,384.32. Following the transaction, the chief technology officer now directly owns 181,721 shares in the company, valued at approximately $2,042,544.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.28% of the stock is currently owned by insiders.

Institutional Trading of Eventbrite

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perfromance Wealth Partners LLC acquired a new stake in shares of Eventbrite in the first quarter valued at $86,000. First Sabrepoint Capital Management LP grew its holdings in shares of Eventbrite by 476.0% during the first quarter. First Sabrepoint Capital Management LP now owns 1,400,000 shares of the company’s stock worth $12,012,000 after purchasing an additional 1,156,941 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Eventbrite by 2,517.7% during the fourth quarter. GSA Capital Partners LLP now owns 267,713 shares of the company’s stock worth $1,569,000 after purchasing an additional 257,486 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Eventbrite during the first quarter worth about $222,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Eventbrite by 47.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,880 shares of the company’s stock worth $29,000 after purchasing an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

About Eventbrite

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, enhance reach, and drive ticket sales.