Penserra Capital Management LLC Sells 133,023 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Penserra Capital Management LLC lowered its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 576,479 shares of the company's stock after selling 133,023 shares during the quarter. Penserra Capital Management LLC owned 0.74% of BigCommerce worth $3,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in BigCommerce by 5.9% in the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company's stock worth $70,817,000 after purchasing an additional 572,396 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of BigCommerce by 8.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company's stock worth $11,551,000 after buying an additional 106,080 shares during the last quarter. Clearline Capital LP boosted its holdings in shares of BigCommerce by 27.3% in the 2nd quarter. Clearline Capital LP now owns 949,931 shares of the company's stock worth $7,656,000 after buying an additional 203,785 shares during the last quarter. 272 Capital LP increased its holdings in BigCommerce by 40.0% during the second quarter. 272 Capital LP now owns 884,750 shares of the company's stock worth $7,131,000 after buying an additional 252,946 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in BigCommerce by 42.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company's stock worth $4,602,000 after acquiring an additional 198,638 shares during the period. Hedge funds and other institutional investors own 79.21% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BIGC. Bank of America reduced their target price on shares of BigCommerce from $8.00 to $6.00 and set an "underperform" rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus decreased their target price on BigCommerce from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, October 3rd. Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of BigCommerce in a research note on Thursday, October 3rd. Finally, Barclays cut their price target on BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $8.81.

BigCommerce Price Performance

Shares of BIGC stock traded up $0.21 during trading hours on Tuesday, reaching $7.40. The stock had a trading volume of 2,185,825 shares, compared to its average volume of 804,913. The stock's fifty day simple moving average is $5.86 and its 200 day simple moving average is $6.73. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a market capitalization of $580.01 million, a PE ratio of -19.97 and a beta of 0.99. BigCommerce Holdings, Inc. has a 12 month low of $5.13 and a 12 month high of $10.19.

BigCommerce Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.