Allianz Asset Management GmbH Buys Shares of 76,200 BigCommerce Holdings, Inc. (NASDAQ:CMRC)

Key Points

• Allianz Asset Management GmbH acquired a new stake in Bigcommerce Holdings, Inc. by purchasing 76,200 shares, representing about 0.10% of the company's stock, valued at approximately $439,000.
• Recent earnings results show that Bigcommerce reported $0.04 earnings per share (EPS), meeting analyst estimates, and achieved revenue of $84.43 million, which surpassed expectations.
• Analysts have mixed ratings for Bigcommerce, with a consensus rating of "Hold" and an average price target of $8.07, following recent adjustments from firms like Goldman Sachs and Morgan Stanley.

Allianz Asset Management GmbH bought a new position in BigCommerce Holdings, Inc. (NASDAQ:CMRC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 76,200 shares of the company's stock, valued at approximately $439,000. Allianz Asset Management GmbH owned 0.10% of BigCommerce at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CMRC. Rhumbline Advisers boosted its position in shares of BigCommerce by 3.6% during the 1st quarter. Rhumbline Advisers now owns 101,451 shares of the company's stock valued at $584,000 after acquiring an additional 3,535 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of BigCommerce by 10.0% during the fourth 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. LPL Financial LLC increased its position 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. GAMMA Investing LLC grew its holdings in BigCommerce by 8,196.8% in the 1st quarter. GAMMA Investing LLC now owns 5,144 shares of the company's stock valued at $30,000 after buying an additional 5,082 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BigCommerce in the 4th quarter valued at $35,000. Institutional investors own 79.21% of the company's stock.

BigCommerce Trading Up 3.2%

CMRC stock traded up $0.14 during trading on Wednesday, reaching $4.55. The company had a trading volume of 406,333 shares, compared to its average volume of 837,828. BigCommerce Holdings, Inc. has a 52 week low of $4.39 and a 52 week high of $7.99. The business has a 50 day moving average of $5.00 and a 200 day moving average of $5.56. The company has a market cap of $364.46 million, a P/E ratio of -20.68 and a beta of 1.15. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 2.13.

BigCommerce (NASDAQ:CMRC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $84.43 million for the quarter, compared to analyst estimates of $86.08 million. BigCommerce had a negative net margin of 5.37% and a negative return on equity of 25.13%. BigCommerce's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CMRC shares. Barclays cut their target price on BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $11.00 price objective on shares of BigCommerce in a report on Friday, August 1st. The Goldman Sachs Group dropped their target price on BigCommerce from $9.50 to $8.50 and set a "neutral" rating for the company in a research note on Friday, May 9th. Morgan Stanley decreased their target price on BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Wall Street Zen lowered BigCommerce from a "buy" rating to a "hold" rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.07.

BigCommerce Profile

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.