Cubist Systematic Strategies LLC Grows Position in Eventbrite, Inc. $EB

Key Points

• Cubist Systematic Strategies LLC increased its ownership of Eventbrite shares by 81.5%, bringing its total to 400,181 shares, valued at approximately $844,000.
• Eventbrite reported a quarterly earnings surprise, with earnings per share (EPS) of ($0.02), beating estimates by $0.06 and generating $72.76 million in revenue.
• The company has a consensus rating of "Moderate Buy" from analysts, with an average price target of $4.40 following a recent price objective set at $2.70 by Morgan Stanley.

Cubist Systematic Strategies LLC lifted its holdings in Eventbrite, Inc. (NYSE:EB - Free Report) by 81.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 400,181 shares of the company's stock after purchasing an additional 179,740 shares during the quarter. Cubist Systematic Strategies LLC owned 0.42% of Eventbrite worth $844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Eventbrite by 3,304.7% during the first quarter. Royal Bank of Canada now owns 422,353 shares of the company's stock worth $891,000 after buying an additional 409,948 shares during the period. Palogic Value Management L.P. boosted its stake in Eventbrite by 87.7% during the first quarter. Palogic Value Management L.P. now owns 1,125,987 shares of the company's stock worth $2,376,000 after buying an additional 525,987 shares during the period. State of Wyoming boosted its stake in Eventbrite by 43.8% during the first quarter. State of Wyoming now owns 51,531 shares of the company's stock worth $109,000 after buying an additional 15,706 shares during the period. MYDA Advisors LLC purchased a new position in Eventbrite during the first quarter worth $549,000. Finally, Ieq Capital LLC boosted its stake in Eventbrite by 149.5% during the first quarter. Ieq Capital LLC now owns 82,515 shares of the company's stock worth $174,000 after buying an additional 49,437 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Eventbrite Trading Up 0.2%

Shares of EB traded up $0.01 during trading hours on Monday, reaching $2.72. 46,317 shares of the company traded hands, compared to its average volume of 826,531. The firm has a market cap of $262.00 million, a price-to-earnings ratio of -12.34 and a beta of 2.03. Eventbrite, Inc. has a 12-month low of $1.80 and a 12-month high of $4.12. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.19. The stock's fifty day moving average price is $2.56 and its 200 day moving average price is $2.40.

Eventbrite (NYSE:EB - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.06. The firm had revenue of $72.76 million during the quarter, compared to analyst estimates of $71.67 million. Eventbrite had a negative net margin of 6.93% and a negative return on equity of 11.91%. Eventbrite has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Eventbrite, Inc. will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $2.70 price objective on shares of Eventbrite in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Eventbrite presently has a consensus rating of "Moderate Buy" and an average price target of $4.40.

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.