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

Los Angeles Capital Management LLC boosted its holdings in shares of Eventbrite, Inc. (NYSE:EB) by 62.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,313 shares of the company’s stock after purchasing an additional 84,933 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Eventbrite were worth $1,842,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of EB. American Century Companies Inc. increased its position in shares of Eventbrite by 55.7% during the 3rd quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after purchasing an additional 1,470,551 shares during the last quarter. Wellington Management Group LLP increased its position in Eventbrite by 43.1% during the third 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 during the last quarter. Invesco Ltd. raised its stake 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 during the period. Deepwater Asset Management LLC raised its stake in shares of Eventbrite by 148.9% in the fourth quarter. Deepwater Asset Management LLC now owns 1,242,083 shares of the company’s stock valued at $10,384,000 after acquiring an additional 743,024 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Eventbrite in the 3rd quarter worth about $5,184,000. Institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

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

Eventbrite Stock Down 0.5 %

Shares of NYSE:EB opened at $5.59 on Wednesday. Eventbrite, Inc. has a 52-week low of $5.00 and a 52-week high of $11.90. The stock has a market cap of $569.45 million, a P/E ratio of -29.42 and a beta of 2.44. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average is $5.46 and its 200 day moving average is $7.10.

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

Insider Buying and Selling at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred on 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 directly owns 357,839 shares in the company, valued at approximately $1,975,271.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.28% of the stock is currently owned by company 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.