JPMorgan Chase & Co. Cuts Stock Holdings in Eventbrite, Inc. (NYSE:EB)

JPMorgan Chase & Co. trimmed its holdings in Eventbrite, Inc. (NYSE:EB - Free Report) by 99.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,045 shares of the company's stock after selling 14,280,935 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of Eventbrite worth $388,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of EB. Quantbot Technologies LP purchased a new stake in shares of Eventbrite during the 3rd quarter valued at approximately $25,000. Paloma Partners Management Co purchased a new stake in shares of Eventbrite during the 3rd quarter valued at approximately $44,000. Harbor Capital Advisors Inc. raised its position in shares of Eventbrite by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company's stock valued at $64,000 after buying an additional 8,307 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Eventbrite during the 3rd quarter valued at approximately $70,000. Finally, US Bancorp DE raised its position in shares of Eventbrite by 327.3% during the 3rd quarter. US Bancorp DE now owns 26,004 shares of the company's stock valued at $71,000 after buying an additional 19,919 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a "buy" rating and set a $7.00 price target on shares of Eventbrite in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Eventbrite presently has a consensus rating of "Hold" and an average price target of $6.58.

Insider Buying and Selling at Eventbrite

In other news, COO Charles Baker sold 20,000 shares of the company'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 directly owns 617,487 shares of the company's stock, valued at approximately $2,192,078.85. This represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.46% of the stock is currently owned by insiders.

Eventbrite Stock Down 4.4 %

Shares of EB stock traded down $0.15 on Thursday, reaching $3.33. 617,483 shares of the stock were exchanged, compared to its average volume of 808,215. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.34. The business's 50 day moving average price is $3.55 and its 200 day moving average price is $3.48. The company has a market capitalization of $322.22 million, a price-to-earnings ratio of -36.96 and a beta of 2.26. Eventbrite, Inc. has a twelve month low of $2.51 and a twelve month high of $9.20.

Eventbrite (NYSE:EB - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.09. Eventbrite had a negative net margin of 2.42% and a negative return on equity of 4.44%. The firm had revenue of $77.80 million during the quarter, compared to the consensus estimate of $75.75 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. As a group, sell-side analysts expect that Eventbrite, Inc. will post -0.12 earnings per share for the current fiscal year.

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.