MetLife Investment Management LLC Reduces Position in Eventbrite, Inc. (NYSE:EB)

MetLife Investment Management LLC cut its stake in shares of Eventbrite, Inc. (NYSE:EB) by 51.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,424 shares of the company’s stock after selling 23,589 shares during the quarter. MetLife Investment Management LLC’s holdings in Eventbrite were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in Eventbrite by 3.5% during the second quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock valued at $544,000 after purchasing an additional 3,829 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $140,000 after purchasing an additional 5,664 shares during the period. Harbor Capital Advisors Inc. lifted its position in Eventbrite by 54.8% during 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 acquired a new position in Eventbrite during the third quarter valued at $25,000. Finally, Covestor Ltd lifted its position in Eventbrite by 68.3% during the third quarter. Covestor Ltd now owns 33,220 shares of the company’s stock valued at $91,000 after purchasing an additional 13,483 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $7.00 target price on shares of Eventbrite in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Eventbrite has a consensus rating of “Hold” and an average target price of $6.58.

Insiders Place Their Bets

In related news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.03, for a total value of $60,600.00. Following the transaction, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 21.46% of the company’s stock.

Eventbrite Trading Down 3.3 %

Shares of Eventbrite stock opened at $3.82 on Wednesday. The firm has a 50-day simple moving average of $3.29 and a two-hundred day simple moving average of $3.82. The company has a market cap of $370.08 million, a P/E ratio of -42.44 and a beta of 2.27. Eventbrite, Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $9.20. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.56 and a current ratio of 1.56.

Eventbrite Company Profile

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.