Bank of New York Mellon Corp Sells 1,042,134 Shares of Bigcommerce Holdings, Inc. (NASDAQ:CMRC)

Bank of New York Mellon Corp lessened its holdings in shares of Bigcommerce Holdings, Inc. (NASDAQ:CMRC - Free Report) by 82.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 220,959 shares of the company's stock after selling 1,042,134 shares during the period. Bank of New York Mellon Corp owned 0.28% of Bigcommerce worth $1,273,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in Bigcommerce in the 4th quarter valued at approximately $70,000. LPL Financial LLC lifted 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 worth $272,000 after purchasing an additional 4,892 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Bigcommerce by 260.5% during the fourth quarter. Headlands Technologies LLC now owns 9,938 shares of the company's stock worth $61,000 after purchasing an additional 7,181 shares during the last quarter. Trexquant Investment LP increased its stake in Bigcommerce by 58.1% in the 4th quarter. Trexquant Investment LP now owns 378,828 shares of the company's stock valued at $2,318,000 after buying an additional 139,146 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in Bigcommerce during the 4th quarter worth about $1,102,000. Institutional investors own 79.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMRC. Wall Street Zen cut Bigcommerce from a "buy" rating to a "hold" rating in a report on Saturday. Barclays lowered their target price on shares of Bigcommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. 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 research report on Wednesday, April 16th. The Goldman Sachs Group dropped their target price on shares of Bigcommerce from $9.50 to $8.50 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $11.00 price target on shares of Bigcommerce in a report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Bigcommerce currently has an average rating of "Hold" and a consensus target price of $8.07.

Bigcommerce Stock Performance

Shares of NASDAQ:CMRC remained flat at $4.78 during midday trading on Friday. 1,638,457 shares of the stock traded hands. The company has a market capitalization of $382.87 million, a price-to-earnings ratio of -21.73 and a beta of 1.15.

Bigcommerce (NASDAQ:CMRC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. The firm had revenue of $84.43 million for the quarter, compared to the consensus estimate of $83.30 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company's revenue was up 3.2% on a year-over-year basis.

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.