News Summary
NegativeStubHub reported Q2 2026 revenue growth of 33% YoY to $573M driven by World Cup demand, with EBITDA margin expansion to 18%, but missed EPS consensus by 7¢ and posted a net loss despite surging top-line results, triggering a 13–15% stock selloff. The stock has since collapsed ~72% from 52-week highs to $5–6 range amid widespread analyst downgrades, insider selling by executives, customer complaints/class action litigation, and management guidance signaling only low single-digit H2 2026 growth as the World Cup boost fades.
Red flags
- •EPS miss of ~7¢ vs. 0¢ reported despite 33% revenue growth
- •Net loss of $40K despite $573M quarterly revenue (profitability deterioration despite scale)
- •Stock declined ~72% from 52-week high (~$27.89) to lows of $5.31–$5.74
- •Wave of analyst downgrades post-earnings; Mizuho cut target from $24 to $11 (54% reduction)
- •Multiple insider selling events including executive dumping >10% of stakes (~$1.1M+ in sales)
- •Proposed class action lawsuit and rising BBB complaints over ticketing failures and delayed refunds
- •Management guidance cut: maintained EBITDA outlook at $400–420M despite raising GMS guidance, signaling margin pressure
- •H2 2026 outlook: low single-digit GMS growth as World Cup boost fades; gross margin normalization expected to pressure profitability
Funds Reducing / Exiting (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Maverick Capital | Lee Ainslie | 0 | −931K | — | <0.1% | -100% | EXITED |
| Duquesne Family Office | Stanley Druckenmiller | 0 | −1.4M | — | 0.3% | -100% | EXITED |
| Soros Fund Management | Soros Family Office | 0 | −125K | — | <0.1% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Islam Nayaab | See Remarks | SELL | 14K | $6.20 | $0.09M | 2026-09-14 | ↗ |
| Islam Nayaab | See Remarks | SELL | 25K | $6.69 | $0.16M | 2026-09-04 | ↗ |
| Islam Nayaab | See Remarks | SELL | 110K | $6.66 | $0.74M | 2026-09-03 | ↗ |
| Streams Mark | See Remarks | SELL | 136K | $6.39 | $0.87M | 2026-09-03 | ↗ |
| Streams Mark | See Remarks | SELL | 30K | $6.23 | $0.19M | 2026-09-02 | ↗ |
| Streams Mark | See Remarks | SELL | 3K | $6.88 | $0.02M | 2026-08-26 | ↗ |
| Islam Nayaab | See Remarks | SELL | 86K | $6.86 | $0.59M | 2026-08-26 | ↗ |
| Streams Mark | See Remarks | SELL | 10K | $6.84 | $0.07M | 2026-08-25 | ↗ |
| Islam Nayaab | See Remarks | SELL | 220K | $6.78 | $1.49M | 2026-08-25 | ↗ |
| Streams Mark | See Remarks | SELL | 150K | $6.76 | $1.01M | 2026-08-24 | ↗ |
| Streams Mark | See Remarks | SELL | 7K | $6.93 | $0.05M | 2026-08-21 | ↗ |
| Fitzgerald Scott Michael | Principal Accounting Officer | SELL | 85K | $7.08 | $0.60M | 2026-08-19 | ↗ |
| James Constance P. | Chief Financial Officer | SELL | 117K | $7.06 | $0.82M | 2026-08-18 | ↗ |
| Streams Mark | See Remarks | SELL | 400 | $14.01 | $0.01M | 2026-07-07 | ↗ |
| Islam Nayaab | See Remarks | SELL | 3K | $14.01 | $0.04M | 2026-07-07 | ↗ |
| Islam Nayaab | See Remarks | SELL | 55K | $13.03 | $0.71M | 2026-07-06 | ↗ |
| Streams Mark | See Remarks | SELL | 29K | $13.02 | $0.37M | 2026-07-06 | ↗ |
| Islam Nayaab | See Remarks | SELL | 2K | $13.00 | $0.03M | 2026-07-01 | ↗ |
| Streams Mark | See Remarks | SELL | 3K | $13.00 | $0.04M | 2026-07-01 | ↗ |
| Streams Mark | See Remarks | SELL | 18K | $13.03 | $0.24M | 2026-06-30 | ↗ |
| Islam Nayaab | See Remarks | SELL | 25K | $13.03 | $0.33M | 2026-06-30 | ↗ |
| Streams Mark | See Remarks | SELL | 300 | $13.00 | $0.00M | 2026-06-29 | ↗ |
| Islam Nayaab | See Remarks | SELL | 1K | $13.00 | $0.02M | 2026-06-29 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| PointState Capital LP | SC 13G/A | 10.0M | 2.8% | 2026-08-14 | ↗ |
| PointState Capital LP | SC 13G/A | 20.1M | 6.1% | 2026-05-15 | ↗ |
| Bessemer Venture Partners VIII L.P. | SC 13G/A | 9.2M | 2.8% | 2026-04-29 | ↗ |
| WestCap Management, LLC | SC 13G/A | 12.5M | 3.8% | 2026-04-08 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.