BWS Financial Reiterates Buy Rating for Eventbrite (NYSE:EB)

Eventbrite (NYSE:EB)‘s stock had its “buy” rating restated by equities researchers at BWS Financial in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $7.00 price objective on the stock. BWS Financial’s price objective points to a potential upside of 85.92% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Truist Financial downgraded Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. B. Riley decreased their target price on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler lowered shares of Eventbrite from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $4.00 in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Eventbrite has an average rating of “Hold” and a consensus price target of $6.58.

Eventbrite Stock Performance

NYSE:EB opened at $3.77 on Wednesday. The company’s 50-day moving average is $3.01 and its two-hundred day moving average is $4.05. The firm has a market capitalization of $361.82 million, a price-to-earnings ratio of -41.83 and a beta of 2.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. Eventbrite has a 1-year low of $2.51 and a 1-year high of $9.20.

Insider Buying and Selling at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total value of $60,600.00. Following the sale, the chief financial officer now directly owns 628,152 shares in the company, valued at approximately $1,903,300.56. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $3.44, for a total value of $258,000.00. Following the completion of the transaction, the chief technology officer now owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. This trade represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eventbrite

Hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eventbrite by 14.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 227,897 shares of the company’s stock valued at $622,000 after purchasing an additional 29,390 shares during the last quarter. FMR LLC increased its holdings in Eventbrite by 59.5% in the third quarter. FMR LLC now owns 152,889 shares of the company’s stock valued at $417,000 after buying an additional 57,011 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Eventbrite in the third quarter valued at $25,000. Whetstone Capital Advisors LLC lifted its holdings in Eventbrite by 74.6% during the 3rd quarter. Whetstone Capital Advisors LLC now owns 1,432,555 shares of the company’s stock worth $3,911,000 after buying an additional 612,173 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Eventbrite during the 3rd quarter worth about $756,000. Institutional investors and hedge funds own 91.64% 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.