Cornercap Investment Counsel Inc. Buys New Position in Eventbrite, Inc. (NYSE:EB)

Cornercap Investment Counsel Inc. bought a new stake in shares of Eventbrite, Inc. (NYSE:EB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 61,369 shares of the company’s stock, valued at approximately $513,000. Cornercap Investment Counsel Inc. owned approximately 0.06% of Eventbrite at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Eventbrite by 10.9% in the first quarter. Vanguard Group Inc. now owns 7,972,046 shares of the company’s stock worth $117,747,000 after acquiring an additional 781,763 shares in the last quarter. Invesco Ltd. boosted its holdings in Eventbrite by 2.2% in the first quarter. Invesco Ltd. now owns 5,084,727 shares of the company’s stock worth $75,104,000 after acquiring an additional 110,587 shares in the last quarter. American Century Companies Inc. boosted its holdings in Eventbrite by 55.7% in the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock worth $40,524,000 after acquiring an additional 1,470,551 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Eventbrite by 43.1% in the third quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock worth $36,533,000 after acquiring an additional 1,116,749 shares in the last quarter. Finally, State Street Corp boosted its holdings in Eventbrite by 1.8% in the second quarter. State Street Corp now owns 1,643,882 shares of the company’s stock worth $15,699,000 after acquiring an additional 29,725 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on EB shares. Morgan Stanley lowered their price objective on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Truist Financial lowered their price objective on Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler lowered their price objective on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Eventbrite presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Eventbrite Trading Down 2.4 %

NYSE:EB opened at $5.09 on Wednesday. Eventbrite, Inc. has a 52-week low of $5.00 and a 52-week high of $11.90. The stock has a fifty day moving average of $6.43 and a 200 day moving average of $7.49. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99.

Eventbrite (NYSE:EB) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $87.76 million during the quarter, compared to analyst estimates of $88.45 million. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. On average, equities analysts forecast that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Eventbrite

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the sale, the chief financial officer now owns 357,839 shares in the company, valued at $1,975,271.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.28% of the company’s stock.

About Eventbrite

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for 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.