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

Bank of New York Mellon Corp trimmed its position in BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 82.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,959 shares of the company's stock after selling 1,042,134 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of BigCommerce worth $1,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of BigCommerce by 1,073.1% during the fourth quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock valued at $7,620,000 after buying an additional 1,138,977 shares during the period. Divisar Capital Management LLC increased its position in BigCommerce by 48.5% during the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock valued at $11,457,000 after purchasing an additional 611,811 shares during the period. Sovereign s Capital Management LLC purchased a new position in BigCommerce during the 4th quarter valued at $2,586,000. G2 Investment Partners Management LLC bought a new position in BigCommerce in the 4th quarter worth $1,905,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of BigCommerce in the 4th quarter worth about $1,282,000. 79.21% of the stock is currently owned by institutional investors.

BigCommerce Stock Performance

Shares of NASDAQ BIGC traded up $0.21 on Friday, reaching $4.99. 1,638,452 shares of the company's stock traded hands, compared to its average volume of 762,626. The business's 50 day simple moving average is $5.02 and its two-hundred day simple moving average is $5.59. BigCommerce Holdings, Inc. has a 12 month low of $4.73 and a 12 month high of $8.27. The company has a debt-to-equity ratio of 4.14, a current ratio of 2.34 and a quick ratio of 2.34.

BigCommerce (NASDAQ:BIGC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates of $0.04. The company had revenue of $84.43 million during the quarter, compared to analyst estimates of $83.30 million. BigCommerce had a negative return on equity of 26.12% and a negative net margin of 5.37%. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Equities analysts predict that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BIGC. Canaccord Genuity Group reaffirmed a "buy" rating and set a $11.00 target price on shares of BigCommerce in a research note on Friday. Wall Street Zen cut BigCommerce from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. The Goldman Sachs Group reduced their target price on BigCommerce from $9.50 to $8.50 and set a "neutral" rating on the stock in a report 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, Barclays dropped their price target on BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.07.

About BigCommerce

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.