Formula Growth Ltd. bought a new stake in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $306,000. Formula Growth Ltd. owned 0.06% of BigCommerce as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC raised its stake in BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company's stock worth $89,000 after buying an additional 2,200 shares during the last quarter. New York State Common Retirement Fund lifted 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 purchasing an additional 4,400 shares during the period. LPL Financial LLC boosted its position in shares of BigCommerce by 12.4% during the 4th quarter. LPL Financial LLC now owns 44,464 shares of the company's stock valued at $272,000 after purchasing an additional 4,892 shares in the last quarter. Virtu Financial LLC grew its stake in BigCommerce by 56.9% during the fourth quarter. Virtu Financial LLC now owns 16,333 shares of the company's stock worth $100,000 after purchasing an additional 5,926 shares during the period. Finally, Headlands Technologies LLC increased its holdings in BigCommerce by 260.5% in the fourth quarter. Headlands Technologies LLC now owns 9,938 shares of the company's stock worth $61,000 after purchasing an additional 7,181 shares in the last quarter. Institutional investors and hedge funds own 79.21% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of BigCommerce in a research note on Wednesday, March 12th. Finally, Morgan Stanley decreased their price objective on BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, BigCommerce currently has a consensus rating of "Hold" and an average target price of $7.40.
Read Our Latest Research Report on BIGC
Insider Transactions at BigCommerce
In other news, Director Ellen F. Siminoff bought 177,158 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the acquisition, the director now owns 253,333 shares of the company's stock, valued at approximately $1,682,131.12. The trade was a 232.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.06% of the company's stock.
BigCommerce Stock Performance
Shares of NASDAQ BIGC traded up $0.19 during midday trading on Thursday, hitting $5.31. The company's stock had a trading volume of 168,118 shares, compared to its average volume of 878,631. The stock has a fifty day moving average price of $5.94 and a 200 day moving average price of $6.20. The firm has a market capitalization of $416.97 million, a price-to-earnings ratio of -15.16 and a beta of 1.17. BigCommerce Holdings, Inc. has a one year low of $4.85 and a one year high of $8.60. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48.
BigCommerce (NASDAQ:BIGC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The company had revenue of $87.03 million during the quarter, compared to analysts' expectations of $86.90 million. On average, research analysts forecast that BigCommerce Holdings, Inc. will post -0.16 EPS for the current fiscal year.
About BigCommerce
(
Free Report)
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.
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