Circumference Group LLC Sells 274,000 Shares of Eventbrite, Inc. (NYSE:EB)

Circumference Group LLC reduced its stake in shares of Eventbrite, Inc. (NYSE:EB) by 53.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 236,155 shares of the company’s stock after selling 274,000 shares during the period. Eventbrite comprises 0.7% of Circumference Group LLC’s investment portfolio, making the stock its 25th biggest position. Circumference Group LLC’s holdings in Eventbrite were worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors 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 worth $544,000 after acquiring an additional 3,829 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Eventbrite by 24.4% during 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 period. Harbor Capital Advisors Inc. raised 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 valued at $64,000 after purchasing an additional 8,307 shares during the period. Quantbot Technologies LP bought a new stake in shares of Eventbrite in the third quarter valued at approximately $25,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Eventbrite during the 1st quarter valued at approximately $64,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Eventbrite Price Performance

Shares of NYSE EB opened at $3.52 on Monday. The stock’s 50-day simple moving average is $3.15 and its two-hundred day simple moving average is $3.89. Eventbrite, Inc. has a twelve month low of $2.51 and a twelve month high of $9.20. The firm has a market capitalization of $341.02 million, a P/E ratio of -39.11 and a beta of 2.29. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.34.

Insider Buying and Selling

In related news, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 628,152 shares in the company, valued at approximately $1,903,300.56. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EB. BWS Financial reiterated a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a research note on Wednesday, November 13th. Piper Sandler lowered Eventbrite from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $4.00 in a research note on Friday, August 9th. KeyCorp downgraded Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Truist Financial cut Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, B. Riley cut their price objective on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.