Jane Street Group LLC Decreases Holdings in Eventbrite Inc (NYSE:EB)

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Jane Street Group LLC trimmed its holdings in shares of Eventbrite Inc (NYSE:EB) by 62.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,556 shares of the company’s stock after selling 25,331 shares during the quarter. Jane Street Group LLC’s holdings in Eventbrite were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Eventbrite by 113.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,822,011 shares of the company’s stock worth $45,716,000 after purchasing an additional 1,502,978 shares during the period. Baillie Gifford & Co. raised its position in Eventbrite by 95.4% in the 2nd quarter. Baillie Gifford & Co. now owns 2,934,531 shares of the company’s stock worth $47,539,000 after purchasing an additional 1,432,490 shares during the period. Nikko Asset Management Americas Inc. raised its position in Eventbrite by 106.9% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,637,357 shares of the company’s stock worth $42,725,000 after purchasing an additional 1,362,359 shares during the period. BlackRock Inc. raised its position in Eventbrite by 181.4% in the 2nd quarter. BlackRock Inc. now owns 2,014,636 shares of the company’s stock worth $32,638,000 after purchasing an additional 1,298,789 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Eventbrite in the 2nd quarter worth about $18,895,000. Hedge funds and other institutional investors own 52.82% of the company’s stock.

In other news, SVP Patrick David Poels sold 26,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $17.71, for a total transaction of $460,460.00. Following the transaction, the senior vice president now directly owns 27,210 shares in the company, valued at $481,889.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.61% of the stock is currently owned by company insiders.

Shares of EB stock opened at $17.45 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.67 and a current ratio of 1.67. The company’s 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $18.07. Eventbrite Inc has a one year low of $15.30 and a one year high of $33.87.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. Eventbrite had a negative net margin of 23.53% and a negative return on equity of 13.82%. The firm had revenue of $80.80 million for the quarter, compared to the consensus estimate of $76.44 million. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts anticipate that Eventbrite Inc will post -0.77 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. ValuEngine raised shares of Eventbrite from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Zacks Investment Research downgraded shares of Eventbrite from a “hold” rating to a “sell” rating in a research note on Monday, August 19th. SunTrust Banks set a $20.00 target price on shares of Eventbrite and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, William Blair initiated coverage on shares of Eventbrite in a research note on Monday, June 17th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.80.

About Eventbrite

Eventbrite, Inc operates a ticketing and event technology platform 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, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

See Also: Growth and Income Funds

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Institutional Ownership by Quarter for Eventbrite (NYSE:EB)

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