Zacks Investment Research upgraded shares of Eventbrite (NYSE:EB) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “Eventbrite, Inc. offers a platform which allows users to provide online event planning services, as well as publishes, promotes and sells tickets through social networks and e-mails. Eventbrite, Inc. is based in San Francisco, United States. “

Other equities analysts have also issued research reports about the stock. SunTrust Banks decreased their price target on shares of Eventbrite to $28.00 and set a hold rating for the company in a report on Friday, March 8th. Stifel Nicolaus lowered shares of Eventbrite from a buy rating to a hold rating and set a $33.00 target price for the company. in a research note on Wednesday, December 19th. Finally, Royal Bank of Canada reduced their target price on shares of Eventbrite and set an outperform rating for the company in a research note on Friday, March 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $31.40.

Shares of Eventbrite stock opened at $21.90 on Monday. The firm has a market cap of $1.74 billion and a price-to-earnings ratio of -15.10. Eventbrite has a 52 week low of $19.04 and a 52 week high of $40.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.77.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). The firm had revenue of $75.92 million for the quarter, compared to the consensus estimate of $72.90 million. As a group, sell-side analysts forecast that Eventbrite will post -0.24 EPS for the current year.

In other news, major shareholder Growth Capital Fund I, L.P. sold 685,027 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $20.84, for a total transaction of $14,275,962.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Harnett sold 49,372 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $20.95, for a total transaction of $1,034,343.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 794,399 shares of company stock valued at $16,561,906.

Several institutional investors have recently bought and sold shares of EB. Financial Advocates Investment Management raised its holdings in shares of Eventbrite by 701.9% in the 4th quarter. Financial Advocates Investment Management now owns 3,400 shares of the company’s stock valued at $297,000 after purchasing an additional 2,976 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Eventbrite in the 3rd quarter valued at about $248,000. Pendal Group Ltd raised its holdings in shares of Eventbrite by 86.7% in the 4th quarter. Pendal Group Ltd now owns 9,283 shares of the company’s stock valued at $258,000 after purchasing an additional 4,312 shares during the period. Putnam Investments LLC bought a new stake in shares of Eventbrite in the 3rd quarter valued at about $473,000. Finally, Jane Street Group LLC bought a new stake in shares of Eventbrite in the 3rd quarter valued at about $507,000. Institutional investors own 33.88% of the company’s stock.

Eventbrite Company Profile

Eventbrite, Inc operates as a technology platform worldwide. 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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