Clearbridge Investments LLC Increases Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Clearbridge Investments LLC raised its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,433,163 shares of the company's stock after purchasing an additional 106,080 shares during the quarter. Clearbridge Investments LLC owned about 1.85% of BigCommerce worth $11,551,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Clearline Capital LP increased its stake in shares of BigCommerce by 27.3% during the second quarter. Clearline Capital LP now owns 949,931 shares of the company's stock worth $7,656,000 after acquiring an additional 203,785 shares during the period. Algert Global LLC increased its stake in shares of BigCommerce by 89.4% during the second quarter. Algert Global LLC now owns 267,850 shares of the company's stock worth $2,159,000 after acquiring an additional 126,443 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of BigCommerce by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 27,167 shares of the company's stock worth $219,000 after acquiring an additional 2,056 shares during the period. Divisar Capital Management LLC acquired a new position in shares of BigCommerce during the second quarter worth about $4,274,000. Finally, AQR Capital Management LLC acquired a new position in shares of BigCommerce during the second quarter worth about $121,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIGC. Stifel Nicolaus dropped their price target on shares of BigCommerce from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America dropped their price target on shares of BigCommerce from $8.00 to $6.00 and set an "underperform" rating on the stock in a research note on Thursday, August 29th. Barclays dropped their price target on shares of BigCommerce from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Monday, August 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $14.00 target price on shares of BigCommerce in a research report on Thursday. One equities research 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.81.

BigCommerce Price Performance

BIGC traded up $0.22 on Friday, hitting $5.84. 1,008,030 shares of the company were exchanged, compared to its average volume of 786,582. The company has a debt-to-equity ratio of 13.04, a quick ratio of 4.51 and a current ratio of 4.51. The business's fifty day moving average is $5.98 and its 200 day moving average is $6.87. BigCommerce Holdings, Inc. has a fifty-two week low of $5.35 and a fifty-two week high of $10.29. The firm has a market capitalization of $451.29 million, a P/E ratio of -9.13 and a beta of 0.98.

BigCommerce (NASDAQ:BIGC - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $81.83 million for the quarter, compared to analyst estimates of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The company's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that BigCommerce Holdings, Inc. will post -0.3 EPS for the current year.

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.