Covestor Ltd Boosts Holdings in Eventbrite, Inc. (NYSE:EB)

Covestor Ltd increased its holdings in shares of Eventbrite, Inc. (NYSE:EB) by 68.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,220 shares of the company’s stock after buying an additional 13,483 shares during the period. Covestor Ltd’s holdings in Eventbrite were worth $91,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EB. BNP Paribas Financial Markets raised its holdings in Eventbrite by 169.7% in the first quarter. BNP Paribas Financial Markets now owns 193,824 shares of the company’s stock valued at $1,062,000 after acquiring an additional 121,966 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Eventbrite by 30.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 155,958 shares of the company’s stock valued at $855,000 after purchasing an additional 36,550 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Eventbrite by 1,827.6% during the 1st quarter. Acadian Asset Management LLC now owns 876,014 shares of the company’s stock worth $4,799,000 after purchasing an additional 830,568 shares during the last quarter. Sei Investments Co. grew its stake in shares of Eventbrite by 597.8% during the first quarter. Sei Investments Co. now owns 115,237 shares of the company’s stock worth $632,000 after purchasing an additional 98,723 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new position in Eventbrite in the second quarter valued at $7,744,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Eventbrite Stock Performance

Shares of EB stock opened at $3.60 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. The stock has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $4.05. The company has a market cap of $345.48 million, a price-to-earnings ratio of -39.94 and a beta of 2.29. Eventbrite, Inc. has a 12-month low of $2.51 and a 12-month high of $9.20.

Insider Activity

In other news, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction that occurred on 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 directly owns 495,464 shares in the company, valued at approximately $1,704,396.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Charles Baker sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,903,300.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $258,000.00. Following the transaction, the chief technology officer now owns 495,464 shares of the company’s stock, valued at $1,704,396.16. This trade represents 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.

Analyst Ratings Changes

EB has been the topic of several recent analyst reports. B. Riley dropped their price target on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research note 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. BWS Financial reissued a “buy” rating and issued a $7.00 price target on shares of Eventbrite in a research report on Wednesday. Piper Sandler lowered Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $4.00 in a report on Friday, August 9th. Finally, Truist Financial cut Eventbrite from a “buy” rating to a “hold” 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.58.

Eventbrite Company 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.