Geode Capital Management LLC Lowers Stake in Eventbrite, Inc. (NYSE:EB)

Geode Capital Management LLC lowered its stake in shares of Eventbrite, Inc. (NYSE:EB) by 4.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,767,144 shares of the company’s stock after selling 80,812 shares during the quarter. Geode Capital Management LLC’s holdings in Eventbrite were worth $4,826,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Eventbrite by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock valued at $544,000 after acquiring an additional 3,829 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Eventbrite by 24.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,855 shares of the company’s stock worth $140,000 after purchasing an additional 5,664 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Eventbrite by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company’s stock worth $64,000 after buying an additional 8,307 shares in the last quarter. Quantbot Technologies LP bought a new position in Eventbrite during the third quarter valued at approximately $25,000. Finally, Covestor Ltd grew its holdings in Eventbrite by 68.3% during the 3rd quarter. Covestor Ltd now owns 33,220 shares of the company’s stock valued at $91,000 after buying an additional 13,483 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other Eventbrite news, COO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $3.55, for a total value of $71,000.00. Following the completion of the sale, the chief operating officer now owns 617,487 shares of the company’s stock, valued at $2,192,078.85. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 21.46% of the company’s stock.

Eventbrite Trading Up 2.2 %

Shares of NYSE EB opened at $3.67 on Friday. The stock has a market capitalization of $355.55 million, a P/E ratio of -40.78 and a beta of 2.26. Eventbrite, Inc. has a 1-year low of $2.51 and a 1-year high of $9.20. The business’s 50 day moving average is $3.53 and its two-hundred day moving average is $3.64. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56.

Analysts Set New Price Targets

Separately, BWS Financial reaffirmed a “buy” rating and set a $7.00 price objective on shares of Eventbrite in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.58.

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.