Deepwater Asset Management LLC Acquires 743,024 Shares of Eventbrite, Inc. (NYSE:EB)

Deepwater Asset Management LLC lifted its position in shares of Eventbrite, Inc. (NYSE:EB) by 148.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,242,083 shares of the company’s stock after acquiring an additional 743,024 shares during the quarter. Eventbrite makes up 4.1% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Deepwater Asset Management LLC owned approximately 1.23% of Eventbrite worth $10,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Eventbrite by 126.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,828 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. Covestor Ltd boosted its stake in Eventbrite by 217.7% in the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after purchasing an additional 1,907 shares during the period. Metropolitan Life Insurance Co NY boosted its stake in Eventbrite by 47.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,880 shares of the company’s stock worth $29,000 after purchasing an additional 1,569 shares during the period. UBS Group AG boosted its stake in Eventbrite by 57.5% in the 3rd quarter. UBS Group AG now owns 6,409 shares of the company’s stock worth $38,000 after purchasing an additional 2,340 shares during the period. Finally, Citigroup Inc. boosted its stake in Eventbrite by 49.2% in the 4th quarter. Citigroup Inc. now owns 12,497 shares of the company’s stock worth $73,000 after purchasing an additional 4,120 shares during the period. Institutional investors own 81.38% of the company’s stock.

Eventbrite Price Performance

Shares of NYSE:EB traded down $0.20 on Tuesday, hitting $5.48. The company’s stock had a trading volume of 2,453,758 shares, compared to its average volume of 1,687,072. The company has a 50-day simple moving average of $7.24 and a 200 day simple moving average of $7.94. Eventbrite, Inc. has a 1 year low of $5.05 and a 1 year high of $11.90. The company has a market capitalization of $557.73 million, a PE ratio of -20.28 and a beta of 2.50. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99.

Eventbrite (NYSE:EB) last announced its quarterly earnings data 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 company had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $88.45 million. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. Sell-side analysts forecast that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the transaction, 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 filing with the SEC, which is available through this hyperlink. 17.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on EB shares. Piper Sandler cut their target price on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. BWS Financial started coverage on Eventbrite in a research note on Monday, November 27th. They issued a “buy” rating and a $12.00 target price for the company. Morgan Stanley cut their target price on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. B. Riley began coverage on Eventbrite in a report on Friday, December 8th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Truist Financial lowered their price target on Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Eventbrite Profile

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.