Los Angeles Capital Management LLC Boosts Stock Position in Eventbrite, Inc. (NYSE:EB)

Los Angeles Capital Management LLC grew its holdings in shares of Eventbrite, Inc. (NYSE:EB) by 62.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,313 shares of the company’s stock after purchasing an additional 84,933 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.22% of Eventbrite worth $1,842,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Alberta Investment Management Corp bought a new position in Eventbrite during the third quarter worth about $1,744,000. Wellington Management Group LLP raised its holdings in shares of Eventbrite by 43.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock valued at $36,533,000 after acquiring an additional 1,116,749 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Eventbrite by 94.5% during the third quarter. Acadian Asset Management LLC now owns 109,979 shares of the company’s stock worth $1,083,000 after purchasing an additional 53,425 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Eventbrite by 33.4% during the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after purchasing an additional 900,925 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of 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 purchasing an additional 1,470,551 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Activity

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was 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 in the company, valued at approximately $1,975,271.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 17.28% of the company’s stock.

Eventbrite Price Performance

Shares of Eventbrite stock opened at $5.59 on Wednesday. The stock has a market capitalization of $569.45 million, a P/E ratio of -29.42 and a beta of 2.44. 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 1.95, a current ratio of 1.86 and a quick ratio of 1.86. The business’s 50 day simple moving average is $5.46 and its two-hundred day simple moving average is $7.10.

Eventbrite (NYSE:EB) last issued its earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $87.76 million for the quarter, compared to the consensus estimate of $88.45 million. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.00%. Analysts forecast that Eventbrite, Inc. will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Morgan Stanley reduced their price objective on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler decreased their price objective on Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. BWS Financial reaffirmed a “buy” rating and issued a $12.00 target price on shares of Eventbrite in a research note on Friday, May 3rd. Finally, KeyCorp reduced their price target on shares of Eventbrite from $13.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.29.

Eventbrite Profile

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.