First Trust Advisors LP Buys Shares of 3,097,693 Eventbrite, Inc. (NYSE:EB)

First Trust Advisors LP bought a new stake in Eventbrite, Inc. (NYSE:EB – Get Rating) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,097,693 shares of the company’s stock, valued at approximately $18,834,000. First Trust Advisors LP owned approximately 3.14% of Eventbrite at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Great West Life Assurance Co. Can acquired a new stake in shares of Eventbrite during the third quarter worth approximately $31,000. UBS Group AG grew its holdings in Eventbrite by 57.5% during the third quarter. UBS Group AG now owns 6,409 shares of the company’s stock worth $38,000 after acquiring an additional 2,340 shares during the period. Centiva Capital LP acquired a new position in Eventbrite during the third quarter worth about $61,000. Covestor Ltd grew its holdings in Eventbrite by 18,765.2% during the first quarter. Covestor Ltd now owns 4,339 shares of the company’s stock worth $64,000 after acquiring an additional 4,316 shares during the period. Finally, PDT Partners LLC purchased a new position in Eventbrite in the 3rd quarter worth about $67,000. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

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Eventbrite Trading Down 5.5 %

NYSE:EB opened at $8.47 on Friday. Eventbrite, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $15.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market capitalization of $835.90 million, a PE ratio of -15.12 and a beta of 2.58. The business’s 50-day simple moving average is $8.08 and its 200-day simple moving average is $7.18.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EB. Piper Sandler decreased their target price on shares of Eventbrite from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. Morgan Stanley lifted their target price on shares of Eventbrite from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd. Finally, William Blair reissued an “outperform” rating on shares of Eventbrite in a research report on Wednesday, March 1st.

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.

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