Insider Selling: BigCommerce Holdings, Inc. (NASDAQ:BIGC) Insider Sells 4,114 Shares of Stock
BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Rating) insider Jeff Mengoli sold 4,114 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $19.11, for a total transaction of $78,618.54. Following the transaction, the insider now owns 142,752 shares in the company, valued at approximately $2,727,990.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of BIGC stock traded down $0.27 during trading hours on Wednesday, reaching $18.26. 1,370,889 shares of the company were exchanged, compared to its average volume of 1,609,647. BigCommerce Holdings, Inc. has a fifty-two week low of $12.71 and a fifty-two week high of $72.20. The stock’s fifty day moving average is $19.26 and its two-hundred day moving average is $28.26. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -12.51 and a beta of 0.90. The company has a debt-to-equity ratio of 3.06, a current ratio of 6.69 and a quick ratio of 6.69.
BigCommerce (NASDAQ:BIGC – Get Rating) last announced its earnings results on Monday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). BigCommerce had a negative return on equity of 41.10% and a negative net margin of 43.96%. The company had revenue of $66.05 million for the quarter, compared to analyst estimates of $63.77 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. On average, research analysts anticipate that BigCommerce Holdings, Inc. will post -1.18 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of BigCommerce by 81.9% during the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after purchasing an additional 1,673 shares in the last quarter. Potrero Capital Research LLC lifted its holdings in BigCommerce by 419.9% in the first quarter. Potrero Capital Research LLC now owns 211,285 shares of the company’s stock valued at $4,629,000 after buying an additional 170,645 shares during the period. Goldman Sachs Group Inc. lifted its holdings in BigCommerce by 64.7% in the first quarter. Goldman Sachs Group Inc. now owns 965,094 shares of the company’s stock valued at $21,146,000 after buying an additional 379,189 shares during the period. PDT Partners LLC lifted its holdings in BigCommerce by 3.4% in the first quarter. PDT Partners LLC now owns 91,586 shares of the company’s stock valued at $2,007,000 after buying an additional 2,986 shares during the period. Finally, Clearline Capital LP acquired a new position in BigCommerce in the first quarter valued at approximately $10,426,000. Institutional investors own 77.98% of the company’s stock.
BIGC has been the topic of a number of analyst reports. Zacks Investment Research cut shares of BigCommerce from a “hold” rating to a “sell” rating in a research note on Friday, May 20th. KeyCorp lowered their target price on shares of BigCommerce from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 1st. Berenberg Bank initiated coverage on shares of BigCommerce in a research note on Tuesday, March 15th. They issued a “hold” rating and a $21.00 target price on the stock. Wedbush lowered their target price on shares of BigCommerce from $45.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. Finally, The Goldman Sachs Group lowered their target price on shares of BigCommerce from $60.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $33.59.
About BigCommerce (Get Rating)
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.
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