diff --git a/packages/react-native/ReactCommon/react/renderer/uimanager/PointerEventsProcessor.cpp b/packages/react-native/ReactCommon/react/renderer/uimanager/PointerEventsProcessor.cpp
index cdb83add952f2a..c24ec473530064 100644
--- a/packages/react-native/ReactCommon/react/renderer/uimanager/PointerEventsProcessor.cpp
+++ b/packages/react-native/ReactCommon/react/renderer/uimanager/PointerEventsProcessor.cpp
@@ -12,7 +12,9 @@ namespace facebook::react {
 static ShadowNode::Shared getShadowNodeFromEventTarget(
     jsi::Runtime& runtime,
     const EventTarget& target) {
+  target.retain(runtime);
   auto instanceHandle = target.getInstanceHandle(runtime);
+  target.release(runtime);
   if (instanceHandle.isObject()) {
     auto handleObj = instanceHandle.asObject(runtime);
     if (handleObj.hasProperty(runtime, "stateNode")) {
@@ -230,13 +232,11 @@ void PointerEventsProcessor::interceptPointerEvent(
     }
   }
 
-  eventTarget->retain(runtime);
   auto shadowNode = getShadowNodeFromEventTarget(runtime, *eventTarget);
   if (shadowNode != nullptr &&
       shouldEmitPointerEvent(*shadowNode, type, uiManager)) {
     eventDispatcher(runtime, eventTarget, type, priority, pointerEvent);
   }
-  eventTarget->release(runtime);
 
   // Implicit pointer capture release
   if (overrideTarget != nullptr &&
@@ -354,7 +354,6 @@ void PointerEventsProcessor::processPendingPointerCapture(
   if (hasActiveOverride && activeOverrideTag != pendingOverrideTag) {
     auto retargeted = retargetPointerEvent(event, *activeOverride, uiManager);
 
-    retargeted.target->retain(runtime);
     auto shadowNode = getShadowNodeFromEventTarget(runtime, *retargeted.target);
     if (shadowNode != nullptr &&
         shouldEmitPointerEvent(
@@ -366,13 +365,11 @@ void PointerEventsProcessor::processPendingPointerCapture(
           ReactEventPriority::Discrete,
           retargeted.event);
     }
-    retargeted.target->release(runtime);
   }
 
   if (hasPendingOverride && activeOverrideTag != pendingOverrideTag) {
     auto retargeted = retargetPointerEvent(event, *pendingOverride, uiManager);
 
-    retargeted.target->retain(runtime);
     auto shadowNode = getShadowNodeFromEventTarget(runtime, *retargeted.target);
     if (shadowNode != nullptr &&
         shouldEmitPointerEvent(
@@ -384,7 +381,6 @@ void PointerEventsProcessor::processPendingPointerCapture(
           ReactEventPriority::Discrete,
           retargeted.event);
     }
-    retargeted.target->release(runtime);
   }
 
   if (!hasPendingOverride) {
diff --git a/packages/react-native/ReactCommon/react/renderer/uimanager/UIManagerBinding.cpp b/packages/react-native/ReactCommon/react/renderer/uimanager/UIManagerBinding.cpp
index 0baf44b8e3e2bf..61fcc37a174513 100644
--- a/packages/react-native/ReactCommon/react/renderer/uimanager/UIManagerBinding.cpp
+++ b/packages/react-native/ReactCommon/react/renderer/uimanager/UIManagerBinding.cpp
@@ -97,7 +97,8 @@ void UIManagerBinding::dispatchEvent(
     const EventPayload& eventPayload) const {
   SystraceSection s("UIManagerBinding::dispatchEvent", "type", type);
 
-  if (eventPayload.getType() == EventPayloadType::PointerEvent) {
+  if (eventTarget != nullptr &&
+      eventPayload.getType() == EventPayloadType::PointerEvent) {
     auto pointerEvent = static_cast<const PointerEvent&>(eventPayload);
     auto dispatchCallback = [this](
                                 jsi::Runtime& runtime,
@@ -105,8 +106,10 @@ void UIManagerBinding::dispatchEvent(
                                 const std::string& type,
                                 ReactEventPriority priority,
                                 const EventPayload& eventPayload) {
+      eventTarget->retain(runtime);
       this->dispatchEventToJS(
           runtime, eventTarget, type, priority, eventPayload);
+      eventTarget->release(runtime);
     };
     pointerEventsProcessor_.interceptPointerEvent(
         runtime,