Mizuho Markets Americas LLC Cuts Stock Holdings in Eventbrite, Inc. (NYSE:EB)

Mizuho Markets Americas LLC reduced its position in shares of Eventbrite, Inc. (NYSE:EB) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,006 shares of the company’s stock after selling 139,206 shares during the period. Mizuho Markets Americas LLC’s holdings in Eventbrite were worth $1,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EB. MetLife Investment Management LLC increased its stake in Eventbrite by 60.6% in the 1st quarter. MetLife Investment Management LLC now owns 38,737 shares of the company’s stock valued at $572,000 after buying an additional 14,621 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Eventbrite by 21.7% in the first quarter. Vontobel Holding Ltd. now owns 56,000 shares of the company’s stock valued at $827,000 after acquiring an additional 10,000 shares during the last quarter. Blair William & Co. IL grew its position in shares of Eventbrite by 324.1% during the 1st quarter. Blair William & Co. IL now owns 280,354 shares of the company’s stock valued at $4,141,000 after acquiring an additional 214,243 shares during the period. Sei Investments Co. grew its position in shares of Eventbrite by 12.5% during the 1st quarter. Sei Investments Co. now owns 59,144 shares of the company’s stock valued at $874,000 after acquiring an additional 6,555 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Eventbrite by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 7,972,046 shares of the company’s stock valued at $117,747,000 after acquiring an additional 781,763 shares during the period. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EB shares. Piper Sandler increased their target price on shares of Eventbrite from $11.00 to $13.00 in a research report on Friday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Eventbrite from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Morgan Stanley upped their price target on shares of Eventbrite from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Finally, TheStreet upgraded shares of Eventbrite from a “d” rating to a “c-” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Activity

In related news, CTO Vivek Sagi sold 100,568 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $11.24, for a total transaction of $1,130,384.32. Following the transaction, the chief technology officer now owns 181,721 shares of the company’s stock, valued at approximately $2,042,544.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 17.28% of the company’s stock.

Eventbrite Price Performance

NYSE EB traded up $0.13 on Friday, hitting $10.26. The stock had a trading volume of 673,258 shares, compared to its average volume of 1,308,613. Eventbrite, Inc. has a 52-week low of $5.30 and a 52-week high of $11.90. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -31.09 and a beta of 2.63. The firm has a 50-day moving average of $10.31 and a 200-day moving average of $8.84.

Eventbrite (NYSE:EB) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $78.91 million for the quarter, compared to analysts’ expectations of $78.74 million. Eventbrite had a negative net margin of 11.06% and a negative return on equity of 19.89%. Equities analysts expect that Eventbrite, Inc. will post -0.34 EPS for the current year.

Eventbrite Company Profile

Eventbrite, Inc operates a self-service ticketing and experience technology platform that serves 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.