Eventbrite, Inc. (NYSE:EB) Sees Significant Drop in Short Interest

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

Insider Activity at Eventbrite

In related news, COO Charles Baker sold 20,000 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $3.55, for a total transaction of $71,000.00. Following the transaction, the chief operating officer now directly owns 617,487 shares in the company, valued at approximately $2,192,078.85. The trade was a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eventbrite

Several large investors have recently modified their holdings of EB. Rhumbline Advisers grew its holdings in Eventbrite by 3.5% during the second quarter. Rhumbline Advisers now owns 112,477 shares of the company's stock valued at $544,000 after purchasing an additional 3,829 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Eventbrite by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company's stock valued at $64,000 after buying an additional 8,307 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Eventbrite during the 3rd quarter worth $25,000. Pallas Capital Advisors LLC purchased a new stake in Eventbrite in the 4th quarter worth about $37,000. Finally, Covestor Ltd raised its stake in Eventbrite by 68.3% in the 3rd quarter. Covestor Ltd now owns 33,220 shares of the company's stock valued at $91,000 after acquiring an additional 13,483 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Analyst Ratings Changes

Separately, BWS Financial restated a "buy" rating and issued a $7.00 target price on shares of Eventbrite in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.58.

Eventbrite Stock Performance

NYSE EB traded up $0.02 during trading hours on Friday, reaching $3.54. 551,503 shares of the company were exchanged, compared to its average volume of 829,771. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $342.47 million, a P/E ratio of -39.28 and a beta of 2.26. Eventbrite has a 1 year low of $2.51 and a 1 year high of $9.20. The business's 50 day simple moving average is $3.56 and its 200-day simple moving average is $3.55.

Eventbrite Company 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.