JPMorgan Chase & Co. Decreases Stock Holdings in Eventbrite, Inc. (NYSE:EB)

JPMorgan Chase & Co. reduced its position in Eventbrite, Inc. (NYSE:EB) by 99.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,045 shares of the company’s stock after selling 14,280,935 shares during the period. JPMorgan Chase & Co. owned 0.15% of Eventbrite worth $388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EB. Quantbot Technologies LP purchased a new stake in shares of Eventbrite during the third quarter worth about $25,000. Paloma Partners Management Co acquired a new stake in Eventbrite in the 3rd quarter worth approximately $44,000. Harbor Capital Advisors Inc. grew its position in Eventbrite by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company’s stock worth $64,000 after purchasing an additional 8,307 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Eventbrite during the 3rd quarter worth approximately $70,000. Finally, US Bancorp DE increased its stake in Eventbrite by 327.3% during the 3rd quarter. US Bancorp DE now owns 26,004 shares of the company’s stock valued at $71,000 after purchasing an additional 19,919 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Eventbrite Price Performance

Shares of NYSE:EB opened at $3.49 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.34. Eventbrite, Inc. has a twelve month low of $2.51 and a twelve month high of $9.20. The company’s 50 day moving average is $3.55 and its 200 day moving average is $3.48. The company has a market cap of $337.63 million, a PE ratio of -38.72 and a beta of 2.26.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. Eventbrite had a negative net margin of 2.42% and a negative return on equity of 4.44%. The firm had revenue of $77.80 million for the quarter, compared to analyst estimates of $75.75 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. On average, sell-side analysts forecast that Eventbrite, Inc. will post -0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and set a $7.00 price objective on shares of Eventbrite in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.58.

Insider Buying and Selling at Eventbrite

In other news, COO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $3.55, for a total transaction of $71,000.00. Following the sale, the chief operating officer now directly owns 617,487 shares in the company, valued at $2,192,078.85. This trade represents a 3.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.46% of the stock is currently owned by corporate insiders.

About Eventbrite

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.