Eventbrite, Inc. (NYSE:EB) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in Eventbrite, Inc. (NYSE:EB) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 652,004 shares of the company’s stock after selling 17,073 shares during the period. Federated Hermes Inc. owned 0.65% of Eventbrite worth $5,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in Eventbrite by 217.7% in the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after acquiring an additional 1,907 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Eventbrite during the 4th quarter worth about $105,000. ANTIPODES PARTNERS Ltd acquired a new stake in Eventbrite during the 3rd quarter worth approximately $108,000. SG Americas Securities LLC acquired a new stake in Eventbrite during the 4th quarter worth approximately $128,000. Finally, Harbor Capital Advisors Inc. raised its holdings in Eventbrite by 27.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 19,642 shares of the company’s stock valued at $164,000 after buying an additional 4,281 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

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

Eventbrite Trading Down 1.2 %

NYSE:EB opened at $5.20 on Friday. The stock has a market cap of $529.21 million, a price-to-earnings ratio of -19.26 and a beta of 2.51. Eventbrite, Inc. has a one year low of $5.00 and a one year high of $11.90. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.99 and a current ratio of 1.99. The business’s 50-day simple moving average is $6.02 and its 200 day simple moving average is $7.32.

Eventbrite (NYSE:EB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. The company had revenue of $87.76 million for the quarter, compared to analyst estimates of $88.45 million. As a group, sell-side analysts predict that Eventbrite, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $5.52, for a total value of $110,400.00. Following the completion of the sale, the chief financial officer now owns 357,839 shares of the company’s stock, valued at approximately $1,975,271.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.28% of the stock is currently owned by insiders.

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.