Cubist Systematic Strategies LLC Has $1.53 Million Stock Holdings in Eventbrite, Inc. (NYSE:EB)

Cubist Systematic Strategies LLC raised its stake in Eventbrite, Inc. (NYSE:EB) by 135.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 316,669 shares of the company’s stock after buying an additional 182,452 shares during the quarter. Cubist Systematic Strategies LLC owned 0.33% of Eventbrite worth $1,533,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EB. Charles Schwab Investment Management Inc. increased its stake in Eventbrite by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,464 shares of the company’s stock valued at $5,396,000 after buying an additional 19,907 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in Eventbrite in the 4th quarter valued at approximately $1,467,000. Wellington Management Group LLP grew its position in Eventbrite by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after acquiring an additional 710,548 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in Eventbrite in the first quarter worth approximately $1,065,000. Finally, Principal Financial Group Inc. bought a new stake in Eventbrite in the first quarter worth approximately $58,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Buying and Selling

In related news, CTO Vivek Sagi sold 75,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.44, for a total transaction of $258,000.00. Following the completion of the sale, the chief technology officer now owns 495,464 shares in the company, valued at approximately $1,704,396.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eventbrite news, CTO Vivek Sagi sold 75,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.44, for a total value of $258,000.00. Following the completion of the sale, the chief technology officer now owns 495,464 shares in the company, valued at approximately $1,704,396.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. The disclosure for this sale can be found here. 21.46% of the stock is currently owned by corporate insiders.

Eventbrite Price Performance

Shares of Eventbrite stock opened at $2.64 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.95 and a quick ratio of 1.95. Eventbrite, Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $9.88. The firm has a fifty day moving average price of $3.47 and a two-hundred day moving average price of $4.59. The company has a market cap of $256.38 million, a PE ratio of -13.89 and a beta of 2.33.

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

Wall Street Analysts Forecast Growth

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

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.