Goldman Sachs Grows Stakes in Eventbrite

Goldman Sachs

(Ticker Report) – Goldman Sachs Group Inc. lifted its stake in Eventbrite Inc (NYSE:EB) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).

The fund owned 134,067 shares of the company’s stock after purchasing an additional 8,886 shares during the quarter. Goldman Sachs Group Inc. owned 0.15% of Eventbrite worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Echo Street Capital Management LLC raised its holdings in Eventbrite by 605.2% in the first quarter. Echo Street Capital Management LLC now owns 1,336,623 shares of the company’s stock worth $9,757,000 after buying an additional 1,147,079 shares during the last quarter. Luminus Management LLC purchased a new position in Eventbrite in the first quarter worth about $5,585,000. Principal Financial Group Inc. raised its holdings in Eventbrite by 98.5% in the second quarter.

Principal Financial Group Inc. now owns 1,263,424 shares of the company’s stock worth $10,827,000 after buying an additional 626,860 shares during the last quarter. Jane Street Group LLC raised its holdings in Eventbrite by 1,747.8% in the first quarter. Jane Street Group LLC now owns 571,770 shares of the company’s stock worth $4,174,000 after buying an additional 540,826 shares during the last quarter.

Finally, Marathon Asset Management LLP raised its holdings in Eventbrite by 39.4% in the second quarter. Marathon Asset Management LLP now owns 1,772,106 shares of the company’s stock worth $15,185,000 after buying an additional 500,786 shares during the last quarter. 65.11% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $11.00 price target on shares of Eventbrite in a research note on Friday, August 7th. Zacks Investment Research upgraded shares of Eventbrite from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. SunTrust Banks restated a “buy” rating and set a $12.00 target price on shares of Eventbrite in a research report on Friday, June 5th.

Truist reiterated a “buy” rating and issued a $16.00 price target (up from $12.00) on shares of Eventbrite in a research report on Thursday, September 17th. Finally, ValuEngine upgraded shares of Eventbrite from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Eventbrite has an average rating of “Buy” and an average target price of $11.63.

Shares of EB opened at $10.32 on Friday. The company’s fifty day simple moving average is $10.78 and its 200-day simple moving average is $9.25. The company has a market cap of $937.57 million, a P/E ratio of -3.87 and a beta of 2.59. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.60. Eventbrite Inc has a twelve month low of $5.71 and a twelve month high of $22.90.
Eventbrite (NYSE:EB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.07. Eventbrite had a negative net margin of 103.11% and a negative return on equity of 61.89%. The company had revenue of $8.39 million for the quarter, compared to analyst estimates of $13.90 million. Analysts predict that Eventbrite Inc will post -2.82 earnings per share for the current fiscal year.

About Eventbrite

Eventbrite, Inc operates a ticketing and event technology platform 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, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

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