SAN FRANCISCO—Charles Baker, the Chief Operating Officer of Eventbrite, Inc. (NYSE:EB), recently sold 20,000 shares of the company's Class A common stock. The transaction, which took place on December 13, 2024, was executed at a weighted average price of $3.5525 per share, amounting to a total sale value of $71,050. The sale comes as Eventbrite shares have declined over 56% year-to-date, according to InvestingPro data, though analysis suggests the stock is currently trading below its Fair Value.
The shares were sold in multiple transactions with prices ranging from $3.501 to $3.65 per share. Following this sale, Baker retains ownership of 617,487 shares of Eventbrite stock.
This transaction was conducted under a pre-arranged trading plan, known as Rule 10b5-1, which allows company insiders to set up a predetermined schedule for buying or selling stock.
In other recent news, Eventbrite Inc. has announced that its Chief Operating Officer, Lanny Baker, will resign at the end of the year. Baker's departure comes as he plans to assume a senior executive role outside the company. Eventbrite has yet to disclose plans for filling the vacant COO position.
In the company's recent financial updates, Eventbrite reported mixed results for the third quarter of 2024. Despite surpassing forecasted revenues, the company experienced a 5% decline compared to the same quarter last year, with revenues reaching $77.8 million. This decrease was primarily due to a drop in ticket volumes, resulting in an 11% fall in ticketing revenue.
However, Eventbrite saw a significant rise in revenue from organizer fees and Eventbrite ads, which doubled and now constitute 12% of total revenue. The company's net loss improved, narrowing to $3.8 million from $9.9 million in the previous year. Looking ahead, Eventbrite anticipates Q4 2024 revenue to be between $74 million and $77 million, with full-year revenue projected to be between $322 million and $326 million.
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