Palogic Value Management L.P. Lowers Stake in Eventbrite, Inc. (NYSE:EB)

Palogic Value Management L.P. lessened its stake in shares of Eventbrite, Inc. (NYSE:EB - Free Report) by 42.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 600,000 shares of the company's stock after selling 450,000 shares during the quarter. Palogic Value Management L.P. owned approximately 0.62% of Eventbrite worth $2,016,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EB. Quantbot Technologies LP purchased a new stake in Eventbrite in the third quarter worth about $25,000. Pallas Capital Advisors LLC bought a new stake in shares of Eventbrite in the 4th quarter worth approximately $37,000. Paloma Partners Management Co purchased a new stake in shares of Eventbrite in the 3rd quarter worth approximately $44,000. Intech Investment Management LLC bought a new position in Eventbrite during the 3rd quarter valued at approximately $70,000. Finally, Point72 DIFC Ltd purchased a new position in Eventbrite during the third quarter valued at $85,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Eventbrite Stock Performance

EB stock traded down $0.02 during midday trading on Tuesday, reaching $2.33. 691,361 shares of the company's stock traded hands, compared to its average volume of 1,562,077. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.34. The stock has a market cap of $220.49 million, a P/E ratio of -25.89 and a beta of 2.24. Eventbrite, Inc. has a 52-week low of $2.11 and a 52-week high of $5.98. The stock's 50-day moving average is $3.03 and its 200 day moving average is $3.18.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EB. BWS Financial restated a "buy" rating and set a $7.00 price target on shares of Eventbrite in a report on Monday, March 3rd. B. Riley restated a "neutral" rating and set a $3.50 price objective (down from $5.00) on shares of Eventbrite in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.40.

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.