Vanguard Group Inc. cut its stake in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,769,602 shares of the company's stock after selling 1,411,472 shares during the quarter. Vanguard Group Inc. owned approximately 9.91% of BigCommerce worth $47,550,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of BIGC. New York State Common Retirement Fund raised its holdings in shares of BigCommerce by 105.3% during the fourth 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. Virtu Financial LLC acquired a new position in BigCommerce during the 3rd quarter worth approximately $61,000. Sanctuary Advisors LLC bought a new position in BigCommerce in the fourth quarter worth approximately $66,000. KLP Kapitalforvaltning AS acquired a new stake in BigCommerce in the fourth quarter valued at approximately $70,000. Finally, HighTower Advisors LLC grew its stake in BigCommerce by 16.8% in the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company's stock valued at $89,000 after acquiring an additional 2,200 shares during the period. 79.21% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
BIGC has been the topic of a number of recent research reports. Barclays cut BigCommerce from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $8.00 to $7.00 in a report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $10.00 price objective on shares of BigCommerce in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.80.
Read Our Latest Report on BIGC
Insider Activity at BigCommerce
In other news, Director Ellen F. Siminoff bought 177,158 shares of the company's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the transaction, the director now directly owns 253,333 shares in the company, valued at $1,682,131.12. This represents a 232.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.06% of the stock is owned by insiders.
BigCommerce Stock Performance
Shares of BigCommerce stock remained flat at $5.16 on Tuesday. The stock had a trading volume of 932,668 shares, compared to its average volume of 877,867. BigCommerce Holdings, Inc. has a 12-month low of $4.91 and a 12-month high of $8.60. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The stock's 50-day simple moving average is $6.19 and its 200 day simple moving average is $6.24. The firm has a market capitalization of $405.58 million, a PE ratio of -14.74 and a beta of 1.17.
BigCommerce (NASDAQ:BIGC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The company had revenue of $87.03 million during the quarter, compared to analysts' expectations of $86.90 million. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. Equities analysts anticipate that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.
BigCommerce Company Profile
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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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