BigCommerce Holdings, Inc. (NASDAQ:BIGC) Stake Reduced by Cadian Capital Management LP

Cadian Capital Management LP reduced its holdings in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 60.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,466,679 shares of the company's stock after selling 2,280,321 shares during the quarter. BigCommerce accounts for 0.5% of Cadian Capital Management LP's portfolio, making the stock its 26th largest position. Cadian Capital Management LP owned about 1.87% of BigCommerce worth $8,976,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. MetLife Investment Management LLC boosted its position in BigCommerce by 10.0% during the 4th quarter. MetLife Investment Management LLC now owns 42,984 shares of the company's stock worth $263,000 after purchasing an additional 3,893 shares during the period. New York State Common Retirement Fund boosted its position in shares of BigCommerce by 105.3% in the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company's stock worth $53,000 after buying an additional 4,400 shares during the period. LPL Financial LLC grew its stake in shares of BigCommerce by 12.4% in the fourth quarter. LPL Financial LLC now owns 44,464 shares of the company's stock valued at $272,000 after buying an additional 4,892 shares in the last quarter. Virtu Financial LLC grew its stake in shares of BigCommerce by 56.9% in the fourth quarter. Virtu Financial LLC now owns 16,333 shares of the company's stock valued at $100,000 after buying an additional 5,926 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of BigCommerce by 260.5% during the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company's stock valued at $61,000 after buying an additional 7,181 shares during the period. Institutional investors and hedge funds own 79.21% of the company's stock.

Insider Buying and Selling

In related news, Director Ellen F. Siminoff purchased 177,158 shares of the company's stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the transaction, the director now owns 253,333 shares of the company's stock, valued at $1,682,131.12. This represents a 232.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.99% of the company's stock.

BigCommerce Stock Performance

NASDAQ:BIGC traded down $0.08 during mid-day trading on Friday, hitting $5.16. The stock had a trading volume of 946,417 shares, compared to its average volume of 859,868. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The company has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $6.16. The stock has a market capitalization of $405.58 million, a price-to-earnings ratio of -14.74 and a beta of 1.18. BigCommerce Holdings, Inc. has a 52 week low of $4.85 and a 52 week high of $8.60.

BigCommerce (NASDAQ:BIGC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $82.37 million during the quarter, compared to the consensus estimate of $82.48 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The business's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, research analysts expect that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIGC has been the subject of several recent research reports. Barclays lowered their price objective on shares of BigCommerce from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group decreased their price target on shares of BigCommerce from $9.50 to $8.50 and set a "neutral" rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of BigCommerce in a report on Wednesday, March 12th. Finally, Morgan Stanley decreased their price objective on shares of BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, BigCommerce presently has a consensus rating of "Hold" and an average target price of $7.58.

BigCommerce Company 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.