Eventbrite, Inc. (NYSE:EB) Stock Position Trimmed by Cwm LLC

Cwm LLC decreased its position in Eventbrite, Inc. (NYSE:EB) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 284,536 shares of the company’s stock after selling 16,542 shares during the period. Cwm LLC’s holdings in Eventbrite were worth $2,379,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Alberta Investment Management Corp acquired a new position in shares of Eventbrite during the third quarter valued at $1,744,000. Wellington Management Group LLP raised its position in shares of Eventbrite by 43.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock worth $36,533,000 after buying an additional 1,116,749 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Eventbrite by 94.5% in the 3rd quarter. Acadian Asset Management LLC now owns 109,979 shares of the company’s stock worth $1,083,000 after acquiring an additional 53,425 shares during the period. Invesco Ltd. boosted its holdings in shares of Eventbrite by 33.4% in the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after acquiring an additional 900,925 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after acquiring an additional 1,470,551 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EB. Truist Financial decreased their price target on Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company 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 on the stock in a report on Wednesday, February 28th. Finally, Piper Sandler dropped their price target on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Insider Transactions at Eventbrite

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

Eventbrite Stock Performance

EB opened at $5.20 on Friday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. The firm has a market cap of $529.21 million, a PE ratio of -19.24 and a beta of 2.51. The business has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $7.32. Eventbrite, Inc. has a fifty-two week low of $5.00 and a fifty-two week high of $11.90.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business 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%. As a group, equities analysts predict that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

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.