Jacobs Levy Equity Management Inc. Purchases 405,318 Shares of Eventbrite, Inc. (NYSE:EB)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Eventbrite, Inc. (NYSE:EB) by 22.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,197,438 shares of the company’s stock after buying an additional 405,318 shares during the period. Jacobs Levy Equity Management Inc. owned 2.29% of Eventbrite worth $5,999,000 as of its most recent SEC filing.

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

Eventbrite Stock Performance

Shares of EB opened at $3.67 on Friday. The firm has a market capitalization of $355.55 million, a P/E ratio of -40.78 and a beta of 2.27. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. Eventbrite, Inc. has a one year low of $2.51 and a one year high of $9.20. The business has a fifty day moving average of $3.24 and a 200 day moving average of $3.85.

Analysts Set New Price Targets

Several brokerages have issued reports on EB. Truist Financial cut shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th. BWS Financial reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a research report on Wednesday, November 13th. B. Riley cut their target price on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Friday, August 9th. Finally, KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Eventbrite currently has an average rating of “Hold” and an average target price of $6.58.

Insiders Place Their Bets

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.03, for a total value of $60,600.00. Following the transaction, the chief financial officer now directly owns 628,152 shares in the company, valued at approximately $1,903,300.56. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.46% of the company’s stock.

Eventbrite Company 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.