Eventbrite (NYSE:EB) Shares Down 3%

Shares of Eventbrite, Inc. (NYSE:EB) traded down 3% during mid-day trading on Monday . The stock traded as low as $7.06 and last traded at $7.07. 401,525 shares traded hands during trading, a decline of 68% from the average session volume of 1,239,104 shares. The stock had previously closed at $7.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Eventbrite from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. TheStreet raised shares of Eventbrite from a “d” rating to a “c-” rating in a report on Friday, August 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eventbrite from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Eventbrite has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Eventbrite Stock Performance

The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.99. The firm’s 50-day moving average is $8.83 and its two-hundred day moving average is $9.08. The stock has a market cap of $704.36 million, a price-to-earnings ratio of -33.14 and a beta of 2.59.

Institutional Trading of Eventbrite

Several large investors have recently bought and sold shares of EB. MetLife Investment Management LLC grew its stake in Eventbrite by 60.6% during the 1st quarter. MetLife Investment Management LLC now owns 38,737 shares of the company’s stock valued at $572,000 after acquiring an additional 14,621 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Eventbrite by 21.7% during the 1st quarter. Vontobel Holding Ltd. now owns 56,000 shares of the company’s stock valued at $827,000 after acquiring an additional 10,000 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Eventbrite by 324.1% in the 1st quarter. Blair William & Co. IL now owns 280,354 shares of the company’s stock valued at $4,141,000 after buying an additional 214,243 shares during the period. Sei Investments Co. grew its stake in shares of Eventbrite by 12.5% in the 1st quarter. Sei Investments Co. now owns 59,144 shares of the company’s stock valued at $874,000 after buying an additional 6,555 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Eventbrite by 10.9% in the 1st 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 period. 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.