Jacobs Levy Equity Management Inc. Increases Holdings in Brightcove Inc. (NASDAQ:BCOV)

Jacobs Levy Equity Management Inc. grew its position in shares of Brightcove Inc. (NASDAQ:BCOV - Free Report) by 1,124.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 245,526 shares of the software maker's stock after acquiring an additional 225,482 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.54% of Brightcove worth $530,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aaron Wealth Advisors LLC purchased a new stake in shares of Brightcove in the 2nd quarter worth about $34,000. Price T Rowe Associates Inc. MD bought a new stake in Brightcove in the first quarter worth $29,000. XTX Topco Ltd purchased a new stake in shares of Brightcove in the second quarter worth $36,000. Wedbush Securities Inc. bought a new position in shares of Brightcove during the second quarter valued at $47,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Brightcove in the 2nd quarter worth about $53,000. 80.12% of the stock is currently owned by institutional investors.

Brightcove Stock Performance

Shares of BCOV stock traded up $0.01 during trading hours on Tuesday, reaching $4.34. The company had a trading volume of 186,010 shares, compared to its average volume of 310,839. The business has a fifty day moving average price of $2.88 and a 200-day moving average price of $2.44. Brightcove Inc. has a one year low of $1.55 and a one year high of $4.39. The firm has a market cap of $195.91 million, a PE ratio of -20.62 and a beta of 1.01.

Insider Transactions at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were purchased at an average cost of $2.07 per share, with a total value of $41,400.00. Following the transaction, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 32,158 shares of company stock worth $66,455 in the last ninety days. Insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BCOV. Lake Street Capital lowered shares of Brightcove from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. StockNews.com initiated coverage on shares of Brightcove in a report on Tuesday. They issued a "buy" rating for the company. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $4.45 target price (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.