US Bancorp DE Acquires 19,919 Shares of Eventbrite, Inc. (NYSE:EB)

US Bancorp DE boosted its stake in shares of Eventbrite, Inc. (NYSE:EB) by 327.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,004 shares of the company’s stock after acquiring an additional 19,919 shares during the quarter. US Bancorp DE’s holdings in Eventbrite were worth $71,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Eventbrite by 192.4% in the 3rd quarter. SG Americas Securities LLC now owns 75,130 shares of the company’s stock worth $205,000 after purchasing an additional 49,434 shares during the period. Nantahala Capital Management LLC bought a new position in shares of Eventbrite during the second quarter valued at approximately $7,744,000. Point72 Asset Management L.P. raised its holdings in shares of Eventbrite by 57.7% in the second quarter. Point72 Asset Management L.P. now owns 48,586 shares of the company’s stock worth $235,000 after buying an additional 17,786 shares during the period. Algert Global LLC raised its holdings in shares of Eventbrite by 54.4% in the second quarter. Algert Global LLC now owns 575,688 shares of the company’s stock worth $2,786,000 after buying an additional 202,763 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Eventbrite during the 2nd quarter worth approximately $273,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Eventbrite Trading Down 6.9 %

NYSE EB opened at $3.50 on Friday. The company’s 50-day simple moving average is $3.02 and its two-hundred day simple moving average is $4.03. Eventbrite, Inc. has a one year low of $2.51 and a one year high of $9.20. The company has a market capitalization of $336.35 million, a price-to-earnings ratio of -38.89 and a beta of 2.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.56 and a current ratio of 1.56.

Insider Activity at Eventbrite

In other news, CTO Vivek Sagi sold 75,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the transaction, the chief technology officer now directly owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total value of $60,600.00. Following the completion of the sale, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at $1,903,300.56. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. 21.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on EB. Truist Financial downgraded Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. B. Riley cut their price target on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp cut shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. BWS Financial restated a “buy” rating and issued a $7.00 target price on shares of Eventbrite in a research note on Wednesday. Finally, Piper Sandler downgraded shares of Eventbrite from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $4.00 in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.58.

Eventbrite 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.