State Board of Administration of Florida Retirement System Reduces Stock Position in Eventbrite, Inc. (NYSE:EB)

State Board of Administration of Florida Retirement System lessened its position in shares of Eventbrite, Inc. (NYSE:EB – Get Rating) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,879 shares of the company’s stock after selling 1,580 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Eventbrite were worth $181,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Eventbrite by 17.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 520,474 shares of the company’s stock valued at $3,164,000 after purchasing an additional 78,083 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Eventbrite by 85.9% in the third quarter. Renaissance Technologies LLC now owns 892,600 shares of the company’s stock worth $5,427,000 after buying an additional 412,500 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of Eventbrite by 41.6% in the third quarter. Engineers Gate Manager LP now owns 141,799 shares of the company’s stock worth $862,000 after buying an additional 41,659 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Eventbrite by 299.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,358,800 shares of the company’s stock worth $8,262,000 after buying an additional 1,018,700 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Eventbrite by 1.7% in the third quarter. New York State Common Retirement Fund now owns 572,580 shares of the company’s stock worth $3,481,000 after buying an additional 9,679 shares during the last quarter. Hedge funds and other institutional investors own 85.05% of the company’s stock.

Eventbrite Trading Up 2.0 %

EB opened at $7.54 on Tuesday. Eventbrite, Inc. has a 52 week low of $5.30 and a 52 week high of $12.89. The business has a fifty day simple moving average of $7.84 and a 200-day simple moving average of $7.60. The firm has a market cap of $753.92 million, a P/E ratio of -15.08 and a beta of 2.56. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.16.

Eventbrite (NYSE:EB – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.19. The firm had revenue of $71.54 million during the quarter, compared to analysts’ expectations of $70.81 million. Eventbrite had a negative return on equity of 31.16% and a negative net margin of 17.63%. On average, equities analysts expect that Eventbrite, Inc. will post -0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on EB. William Blair restated an “outperform” rating on shares of Eventbrite in a research note on Wednesday, March 1st. Morgan Stanley upped their target price on Eventbrite from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 2nd.

Insider Activity at Eventbrite

In related news, General Counsel Julia D. Taylor sold 36,187 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $7.00, for a total value of $253,309.00. Following the sale, the general counsel now owns 191,609 shares in the company, valued at approximately $1,341,263. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.56% of the stock is currently owned by insiders.

About Eventbrite

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Eventbrite, Inc provides event management services encompassing online ticketing, event hosting, organization, promotion, and advertising. It offers virtual events, online webinars, online classes, virtual runs, online zumba classes, and online yoga. The company was founded by Alan Michael Braverman, Renaud Visage, Kevin E.