StubHub Holdings Inc. shares fell nearly 70% over the past year as Executive Vice President and Chief Legal Officer Mark Streams sold $1.13 million in Class A common stock across three transactions in late August.
Streams disposed of 6,500 shares at $6.93 each on Aug. 21, reducing his direct holdings to 1,554,222 shares. Two days later, he sold 150,000 shares at a weighted average price of $6.7646, bringing his stake to 1,404,222 shares. On Aug. 25, another 10,176 shares were sold at $6.8446 on average, leaving him with 1,394,046 shares. The stock last traded at $6.81.
StubHub reported Q2 gross merchandise sales of $3.1 billion, up 34% year-over-year and exceeding estimates of $2.5 billion. Revenue reached $573 million, while adjusted EBITDA totaled $106 million, topping consensus. Despite the financial performance, the company's shares remain down about 50% year-to-date and above a 52-week low of $5.74.
Analysts have mixed views on the stock. TD Cowen maintained a $12 price target, while Mizuho and Guggenheim set targets at $11. Evercore ISI raised its target to $14, but BofA Securities downgraded StubHub to Underperform with a $7.50 target.
