Connor Clark & Lunn Investment Management Ltd. Increases Stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 79.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 696,129 shares of the company's stock after purchasing an additional 308,384 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.89% of BigCommerce worth $4,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC increased its stake in BigCommerce by 154.9% during the 3rd quarter. Barclays PLC now owns 116,667 shares of the company's stock worth $682,000 after buying an additional 70,902 shares during the period. Jane Street Group LLC grew its stake in BigCommerce by 88.2% during the 3rd quarter. Jane Street Group LLC now owns 206,265 shares of the company's stock worth $1,207,000 after purchasing an additional 96,667 shares in the last quarter. Walleye Capital LLC acquired a new stake in BigCommerce in the 3rd quarter valued at about $170,000. New York State Common Retirement Fund boosted its stake in shares of BigCommerce by 105.3% in the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company's stock valued at $53,000 after buying an additional 4,400 shares during the period. Finally, State Street Corp increased its stake in shares of BigCommerce by 1.1% during the third quarter. State Street Corp now owns 1,522,002 shares of the company's stock worth $8,904,000 after buying an additional 16,561 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

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BigCommerce Stock Performance

NASDAQ BIGC traded up $0.08 during trading hours on Thursday, hitting $5.97. The company had a trading volume of 486,308 shares, compared to its average volume of 839,035. The business has a 50 day moving average of $6.42 and a 200-day moving average of $6.27. The company has a market cap of $469.24 million, a PE ratio of -17.06 and a beta of 1.13. BigCommerce Holdings, Inc. has a 1-year low of $5.13 and a 1-year high of $8.60. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81.

BigCommerce (NASDAQ:BIGC - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The business had revenue of $87.03 million for the quarter, compared to analysts' expectations of $86.90 million. As a group, equities research analysts expect that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

Analysts Set New Price Targets

BIGC has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of BigCommerce in a report on Wednesday, March 12th. Barclays downgraded shares of BigCommerce from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $8.00 to $7.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.80.

Insiders Place Their Bets

In other news, Director Ellen F. Siminoff acquired 177,158 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the completion of the transaction, the director now directly owns 253,333 shares in the company, valued at approximately $1,682,131.12. This represents a 232.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.06% of the stock is currently owned by insiders.

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.