Horrell Capital Management Inc. Decreases Stock Position in Eventbrite, Inc. (NYSE:EB)

Horrell Capital Management Inc. lowered its stake in shares of Eventbrite, Inc. (NYSE:EB - Free Report) by 53.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 236,155 shares of the company's stock after selling 274,000 shares during the quarter. Horrell Capital Management Inc. owned 0.24% of Eventbrite worth $645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Eventbrite by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 112,477 shares of the company's stock worth $544,000 after purchasing an additional 3,829 shares during the period. Swiss National Bank increased its position in shares of Eventbrite by 3.1% in the 1st quarter. Swiss National Bank now owns 159,300 shares of the company's stock valued at $873,000 after acquiring an additional 4,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Eventbrite by 24.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,855 shares of the company's stock worth $140,000 after purchasing an additional 5,664 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Eventbrite in the 1st quarter valued at $58,000. Finally, Quadrature Capital Ltd acquired a new stake in Eventbrite during the 1st quarter worth about $64,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Insider Activity

In other news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the sale, the chief financial officer now owns 628,152 shares in the company, valued at approximately $1,903,300.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.44, for a total value of $258,000.00. Following the sale, the chief technology officer now owns 495,464 shares of the company's stock, valued at $1,704,396.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.03, for a total value of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares in the company, valued at approximately $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.46% of the company's stock.

Analysts Set New Price Targets

EB has been the topic of several recent research reports. Truist Financial lowered Eventbrite from a "buy" rating to a "hold" rating in a research report on Friday, August 9th. Piper Sandler lowered Eventbrite from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $9.00 to $4.00 in a report on Friday, August 9th. B. Riley decreased their price target on shares of Eventbrite from $10.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. KeyCorp lowered shares of Eventbrite from an "overweight" rating to a "sector weight" rating in a report on Friday, August 9th. Finally, BWS Financial reiterated a "buy" rating and set a $7.00 price objective on shares of Eventbrite in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.58.

Eventbrite Stock Up 3.0 %

NYSE EB traded up $0.09 during trading hours on Tuesday, hitting $3.22. 1,845,353 shares of the company were exchanged, compared to its average volume of 1,744,259. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. The firm has a market cap of $312.22 million, a price-to-earnings ratio of -16.79 and a beta of 2.32. The company has a 50 day moving average of $2.96 and a two-hundred day moving average of $4.20. Eventbrite, Inc. has a 52-week low of $2.51 and a 52-week high of $9.20.

Eventbrite (NYSE:EB - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.07. The company had revenue of $84.55 million for the quarter, compared to the consensus estimate of $86.15 million. Eventbrite had a negative net margin of 4.20% and a negative return on equity of 7.82%. During the same period in the prior year, the firm posted ($0.03) EPS. Equities research analysts anticipate that Eventbrite, Inc. will post -0.24 earnings per share for the current year.

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.