Point72 Asset Management L.P. Acquires 17,786 Shares of Eventbrite, Inc. (NYSE:EB)

Point72 Asset Management L.P. increased its holdings in Eventbrite, Inc. (NYSE:EB) by 57.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,586 shares of the company’s stock after acquiring an additional 17,786 shares during the period. Point72 Asset Management L.P. owned about 0.05% of Eventbrite worth $235,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EB. Rhumbline Advisers grew its holdings in Eventbrite by 3.5% during the second quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock valued at $544,000 after purchasing an additional 3,829 shares during the period. Swiss National Bank lifted its position in shares of Eventbrite by 3.1% during the first quarter. Swiss National Bank now owns 159,300 shares of the company’s stock worth $873,000 after acquiring an additional 4,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Eventbrite by 24.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,855 shares of the company’s stock worth $140,000 after acquiring an additional 5,664 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Eventbrite during the first quarter worth $58,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Eventbrite during the first quarter worth $64,000. 91.64% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the transaction, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eventbrite news, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the sale, the chief technology officer now directly owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.03, for a total value of $60,600.00. Following the sale, the chief financial officer now directly owns 628,152 shares in the company, valued at approximately $1,903,300.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. B. Riley dropped their target price on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Truist Financial downgraded Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BWS Financial reiterated a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a research report on Thursday. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $9.00 to $4.00 in a research report on Friday, August 9th. Finally, KeyCorp downgraded Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.58.

Eventbrite Trading Down 1.1 %

NYSE EB opened at $2.76 on Friday. The stock’s 50-day simple moving average is $3.27 and its two-hundred day simple moving average is $4.52. Eventbrite, Inc. has a twelve month low of $2.51 and a twelve month high of $9.63. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $268.04 million, a price-to-earnings ratio of -14.53 and a beta of 2.32.

Eventbrite (NYSE:EB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Eventbrite had a negative return on equity of 7.82% and a negative net margin of 4.20%. The firm had revenue of $84.55 million for the quarter, compared to analysts’ expectations of $86.15 million. During the same period last year, the firm earned ($0.03) earnings per share. Research analysts forecast that Eventbrite, Inc. will post -0.24 EPS for the current fiscal year.

Eventbrite Profile

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.