Zurcher Kantonalbank Zurich Cantonalbank Sells 1,952 Shares of Eventbrite, Inc. (NYSE:EB)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Eventbrite, Inc. (NYSE:EB) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,495 shares of the company’s stock after selling 1,952 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eventbrite were worth $288,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Deepwater Asset Management LLC increased its position in Eventbrite by 590.2% during the third quarter. Deepwater Asset Management LLC now owns 499,059 shares of the company’s stock worth $4,921,000 after acquiring an additional 426,748 shares during the period. Rice Hall James & Associates LLC increased its holdings in shares of Eventbrite by 12.4% during the third quarter. Rice Hall James & Associates LLC now owns 1,623,425 shares of the company’s stock worth $16,007,000 after purchasing an additional 178,475 shares during the period. AlpInvest Partners B.V. acquired a new stake in shares of Eventbrite in the third quarter valued at approximately $382,000. Capula Management Ltd bought a new stake in shares of Eventbrite in the third quarter valued at approximately $916,000. Finally, J.P. Morgan Private Wealth Advisors LLC grew its position in Eventbrite by 4.2% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock worth $308,000 after buying an additional 1,271 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EB. BWS Financial reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Eventbrite in a report on Friday. KeyCorp dropped their price target on Eventbrite from $13.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Piper Sandler reduced their price objective on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley dropped their target price on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Finally, Truist Financial reduced their price target on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.29.

Insider Buying and Selling at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $5.52, for a total value of $110,400.00. Following the completion of the transaction, the chief financial officer now owns 357,839 shares in the company, valued at approximately $1,975,271.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 17.28% of the company’s stock.

Eventbrite Price Performance

EB stock opened at $5.51 on Monday. The stock has a market cap of $561.30 million, a price-to-earnings ratio of -29.00 and a beta of 2.44. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99. The company has a 50 day simple moving average of $5.56 and a 200 day simple moving average of $7.14. Eventbrite, Inc. has a 1 year low of $5.00 and a 1 year high of $11.90.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.02%. The company had revenue of $87.76 million during the quarter, compared to the consensus estimate of $88.45 million. Research analysts anticipate that Eventbrite, Inc. will post -0.15 EPS for the current fiscal year.

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.