Eventbrite, Inc. (NYSE:EB) Short Interest Update

Eventbrite, Inc. (NYSE:EB) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 3,390,000 shares, a drop of 21.5% from the December 31st total of 4,320,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is currently 2.4 days.

Insider Buying and Selling

In related news, COO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction on Friday, December 13th. The shares were sold at an average price of $3.55, for a total transaction of $71,000.00. Following the sale, the chief operating officer now owns 617,487 shares of the company’s stock, valued at $2,192,078.85. The trade was a 3.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.46% of the company’s stock.

Hedge Funds Weigh In On Eventbrite

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. White Pine Capital LLC bought a new position in Eventbrite in the 4th quarter valued at about $300,000. Savant Capital LLC boosted its holdings in shares of Eventbrite by 76.6% in the fourth quarter. Savant Capital LLC now owns 37,590 shares of the company’s stock valued at $126,000 after acquiring an additional 16,310 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Eventbrite by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 89,012 shares of the company’s stock valued at $299,000 after acquiring an additional 13,882 shares during the period. Pallas Capital Advisors LLC bought a new stake in Eventbrite during the fourth quarter worth approximately $37,000. Finally, 272 Capital LP bought a new stake in Eventbrite during the third quarter worth approximately $255,000. 91.64% of the stock is owned by institutional investors.

Eventbrite Stock Performance

EB stock traded down $0.17 during midday trading on Friday, reaching $3.17. The company had a trading volume of 851,133 shares, compared to its average volume of 736,970. The firm has a market capitalization of $306.63 million, a PE ratio of -35.17 and a beta of 2.26. The stock has a 50 day moving average price of $3.54 and a 200 day moving average price of $3.47. Eventbrite has a fifty-two week low of $2.51 and a fifty-two week high of $9.20. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.34.

Eventbrite (NYSE:EB) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. Eventbrite had a negative net margin of 2.42% and a negative return on equity of 4.44%. The firm had revenue of $77.80 million for the quarter, compared to the consensus estimate of $75.75 million. During the same period last year, the firm posted ($0.10) EPS. Analysts anticipate that Eventbrite will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $7.00 price target on shares of Eventbrite in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.58.

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.