Wasatch Advisors LP Decreases Holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Wasatch Advisors LP trimmed its stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 35.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,229,881 shares of the company's stock after selling 1,199,340 shares during the quarter. Wasatch Advisors LP owned 2.87% of BigCommerce worth $13,045,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BIGC. Canada Pension Plan Investment Board bought a new stake in shares of BigCommerce during the second quarter valued at approximately $35,000. Harbor Capital Advisors Inc. raised its stake in shares of BigCommerce by 93.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company's stock worth $100,000 after purchasing an additional 8,297 shares during the last quarter. Virtu Financial LLC bought a new position in shares of BigCommerce during the first quarter valued at $104,000. Aigen Investment Management LP purchased a new stake in shares of BigCommerce during the third quarter valued at $105,000. Finally, Intech Investment Management LLC bought a new stake in BigCommerce in the 3rd quarter worth about $112,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIGC has been the topic of a number of recent analyst reports. 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 report on Monday, August 5th. Bank of America dropped their target price on shares of BigCommerce from $8.00 to $6.00 and set an "underperform" rating on the stock in a report on Thursday, August 29th. Needham & Company LLC reissued a "buy" rating and set a $14.00 price target on shares of BigCommerce in a report on Thursday, October 3rd. Finally, Stifel Nicolaus dropped their price target on BigCommerce from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.81.

BigCommerce Stock Performance

Shares of BigCommerce stock traded down $0.04 on Friday, hitting $7.37. 589,956 shares of the company's stock were exchanged, compared to its average volume of 1,091,190. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The company has a 50-day simple moving average of $5.96 and a 200-day simple moving average of $6.72. The stock has a market capitalization of $577.66 million, a PE ratio of -20.47 and a beta of 0.99. BigCommerce Holdings, Inc. has a 1 year low of $5.13 and a 1 year high of $10.19.

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.