Eventbrite (NYSE:EB) Lowered to Neutral at Piper Sandler

Piper Sandler downgraded shares of Eventbrite (NYSE:EB) from an overweight rating to a neutral rating in a research report report published on Friday, MarketBeat.com reports. The brokerage currently has $4.00 price objective on the stock, down from their prior price objective of $9.00.

EB has been the topic of a number of other reports. KeyCorp dropped their price objective on shares of Eventbrite from $13.00 to $6.00 and set an overweight rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley dropped their price objective on shares of Eventbrite from $9.00 to $6.50 and set an equal weight rating on the stock in a research note on Tuesday, May 21st. Finally, BWS Financial reaffirmed a buy rating and issued a $12.00 price objective on shares of Eventbrite in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $6.58.

Eventbrite Stock Down 17.4 %

NYSE EB traded down $0.66 on Friday, hitting $3.14. 10,986,697 shares of the company were exchanged, compared to its average volume of 1,795,337. The company has a market cap of $304.94 million, a PE ratio of -16.53 and a beta of 2.34. Eventbrite has a 12 month low of $2.51 and a 12 month high of $11.33. The stock has a fifty day moving average of $4.82 and a 200-day moving average of $5.74. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.95.

Hedge Funds Weigh In On Eventbrite

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in Eventbrite by 169.7% during the first quarter. BNP Paribas Financial Markets now owns 193,824 shares of the company’s stock valued at $1,062,000 after purchasing an additional 121,966 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Eventbrite by 1,793.8% during the first quarter. GSA Capital Partners LLP now owns 224,109 shares of the company’s stock worth $1,228,000 after acquiring an additional 212,275 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of Eventbrite by 54.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company’s stock worth $29,823,000 after buying an additional 1,259,000 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Eventbrite by 30.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 155,958 shares of the company’s stock worth $855,000 after buying an additional 36,550 shares during the period. Finally, Acadian Asset Management LLC increased its position in Eventbrite by 1,827.6% during the 1st quarter. Acadian Asset Management LLC now owns 876,014 shares of the company’s stock valued at $4,799,000 after purchasing an additional 830,568 shares during the period. Institutional investors 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.