Zurcher Kantonalbank Zurich Cantonalbank Has $288,000 Stock Position in Eventbrite, Inc. (NYSE:EB)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Eventbrite, Inc. (NYSE:EB) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,495 shares of the company’s stock after selling 1,952 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eventbrite were worth $288,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EB. Alberta Investment Management Corp bought a new stake in Eventbrite in the third quarter worth $1,744,000. Wellington Management Group LLP increased its holdings in shares of Eventbrite by 43.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock valued at $36,533,000 after acquiring an additional 1,116,749 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Eventbrite by 94.5% in the 3rd quarter. Acadian Asset Management LLC now owns 109,979 shares of the company’s stock worth $1,083,000 after purchasing an additional 53,425 shares during the last quarter. Invesco Ltd. boosted its position in Eventbrite by 33.4% during the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after purchasing an additional 900,925 shares during the period. Finally, American Century Companies Inc. grew its holdings in Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after purchasing an additional 1,470,551 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 stock was sold at an average price of $5.52, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.28% of the stock is owned by company insiders.

Eventbrite Price Performance

Shares of NYSE:EB opened at $5.51 on Monday. The firm has a market capitalization of $561.30 million, a PE ratio of -29.00 and a beta of 2.44. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. Eventbrite, Inc. has a 1-year low of $5.00 and a 1-year high of $11.90. The business’s 50 day moving average is $5.56 and its 200-day moving average is $7.14.

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

Analyst Upgrades and Downgrades

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

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.