Cubist Systematic Strategies LLC Reduces Position in Eventbrite, Inc. (NYSE:EB)

Cubist Systematic Strategies LLC cut its stake in shares of Eventbrite, Inc. (NYSE:EB - Free Report) by 54.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,441 shares of the company's stock after selling 258,743 shares during the period. Cubist Systematic Strategies LLC owned 0.23% of Eventbrite worth $741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nantahala Capital Management LLC boosted its stake in Eventbrite by 76.5% in the fourth quarter. Nantahala Capital Management LLC now owns 5,930,947 shares of the company's stock worth $19,928,000 after buying an additional 2,569,747 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in Eventbrite in the fourth quarter worth approximately $7,962,000. Alliancebernstein L.P. boosted its stake in Eventbrite by 550.0% in the fourth quarter. Alliancebernstein L.P. now owns 503,750 shares of the company's stock worth $1,693,000 after buying an additional 426,250 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Eventbrite in the fourth quarter worth approximately $1,179,000. Finally, JPMorgan Chase & Co. boosted its stake in Eventbrite by 181.3% in the fourth quarter. JPMorgan Chase & Co. now owns 399,507 shares of the company's stock worth $1,342,000 after buying an additional 257,462 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Eventbrite Stock Up 0.9%

Shares of NYSE:EB traded up $0.02 on Friday, hitting $2.34. 724,281 shares of the company traded hands, compared to its average volume of 1,448,115. Eventbrite, Inc. has a 52 week low of $1.81 and a 52 week high of $5.92. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.34. The stock has a 50 day simple moving average of $2.18 and a 200-day simple moving average of $2.97. The company has a market cap of $221.43 million, a PE ratio of -26.00 and a beta of 2.02.

Eventbrite (NYSE:EB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Eventbrite had a negative return on equity of 4.44% and a negative net margin of 2.42%. The firm had revenue of $73.83 million during the quarter, compared to the consensus estimate of $72.88 million. As a group, research analysts expect that Eventbrite, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on EB. B. Riley reaffirmed a "neutral" rating and issued a $3.50 target price (down previously from $5.00) on shares of Eventbrite in a research note on Friday, February 28th. BWS Financial reaffirmed a "buy" rating and issued a $7.00 target price on shares of Eventbrite in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Eventbrite presently has a consensus rating of "Hold" and an average target price of $5.25.

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.