ExodusPoint Capital Management LP Buys 155,110 Shares of Eventbrite, Inc. (NYSE:EB)

ExodusPoint Capital Management LP lifted its stake in shares of Eventbrite, Inc. (NYSE:EB) by 574.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 182,107 shares of the company’s stock after acquiring an additional 155,110 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.18% of Eventbrite worth $1,562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EB. Mizuho Markets Americas LLC boosted its stake in Eventbrite by 696.8% in the 1st quarter. Mizuho Markets Americas LLC now owns 2,360,175 shares of the company’s stock worth $24,318,000 after purchasing an additional 2,063,963 shares during the period. Norges Bank bought a new position in Eventbrite in the 4th quarter worth approximately $5,784,000. Vanguard Group Inc. boosted its stake in Eventbrite by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 7,972,046 shares of the company’s stock worth $117,747,000 after purchasing an additional 781,763 shares during the period. Two Sigma Advisers LP boosted its stake in Eventbrite by 41.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,358,000 shares of the company’s stock worth $8,257,000 after purchasing an additional 398,200 shares during the period. Finally, Chimera Capital Management LLC bought a new position in Eventbrite in the 4th quarter worth approximately $2,016,000. 81.38% of the stock is currently owned by institutional investors.

Eventbrite Stock Performance

NYSE:EB opened at $10.26 on Friday. The stock’s fifty day moving average is $10.31 and its 200 day moving average is $8.84. Eventbrite, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $11.90. The firm has a market capitalization of $1.03 billion, a PE ratio of -31.09 and a beta of 2.63. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.91 and a current ratio of 1.91.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. Eventbrite had a negative return on equity of 19.89% and a negative net margin of 11.06%. The company had revenue of $78.91 million for the quarter, compared to analyst estimates of $78.74 million. On average, sell-side analysts anticipate that Eventbrite, Inc. will post -0.34 earnings per share for the current year.

Insider Activity at Eventbrite

In other Eventbrite news, CTO Vivek Sagi sold 100,568 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $11.24, for a total value of $1,130,384.32. Following the sale, the chief technology officer now owns 181,721 shares in the company, valued at $2,042,544.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on EB shares. JPMorgan Chase & Co. upped their price target on Eventbrite from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Morgan Stanley upped their price objective on Eventbrite from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. TheStreet raised Eventbrite from a “d” rating to a “c-” rating in a report on Friday, August 4th. Finally, Piper Sandler upped their price objective on Eventbrite from $11.00 to $13.00 in a report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.00.

About Eventbrite

Eventbrite, Inc operates a self-service ticketing and experience technology platform that serves 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.