Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,664 Shares of Eventbrite, Inc. (NYSE:EB)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Eventbrite, Inc. (NYSE:EB) by 24.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,855 shares of the company’s stock after purchasing an additional 5,664 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eventbrite were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in shares of Eventbrite in the first quarter valued at $58,000. Quadrature Capital Ltd purchased a new position in Eventbrite during the 1st quarter valued at about $64,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Eventbrite during the first quarter valued at about $70,000. Victory Capital Management Inc. purchased a new stake in shares of Eventbrite in the fourth quarter worth about $89,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Eventbrite in the first quarter valued at approximately $102,000. Institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler lowered 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 report on Friday, August 9th. BWS Financial restated a “buy” rating and set a $7.00 price target on shares of Eventbrite in a research report on Friday, August 9th. B. Riley lowered their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. Finally, Morgan Stanley decreased their target price on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.58.

Eventbrite Stock Performance

NYSE EB opened at $3.03 on Tuesday. Eventbrite, Inc. has a 52-week low of $2.51 and a 52-week high of $10.40. The company has a fifty day moving average of $4.06 and a 200-day moving average of $4.91. The company has a market capitalization of $291.18 million, a P/E ratio of -15.95 and a beta of 2.33. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.95 and a current ratio of 1.95.

Eventbrite (NYSE:EB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $86.15 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. As a group, equities research analysts predict that Eventbrite, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Vivek Sagi sold 75,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 495,464 shares in the company, valued at approximately $1,704,396.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.