Man Group plc Boosts Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Man Group plc grew its position in BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 232.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,038 shares of the company's stock after buying an additional 64,366 shares during the quarter. Man Group plc owned 0.12% of BigCommerce worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Needham Investment Management LLC boosted its position in shares of BigCommerce by 25.0% in the 4th quarter. Needham Investment Management LLC now owns 500,000 shares of the company's stock valued at $3,060,000 after purchasing an additional 100,000 shares during the period. Millennium Management LLC increased its position in BigCommerce by 1,073.1% during the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock worth $7,620,000 after purchasing an additional 1,138,977 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BigCommerce by 9.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,317 shares of the company's stock worth $443,000 after purchasing an additional 5,953 shares during the last quarter. Graham Capital Management L.P. raised its position in shares of BigCommerce by 848.3% in the 4th quarter. Graham Capital Management L.P. now owns 98,107 shares of the company's stock worth $600,000 after buying an additional 87,761 shares during the period. Finally, G2 Investment Partners Management LLC purchased a new position in shares of BigCommerce in the 4th quarter valued at $1,905,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ellen F. Siminoff purchased 177,158 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $6.64 per share, with a total value 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of BigCommerce in a research report on Wednesday, March 12th. Barclays cut their price objective on BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group dropped their price target on shares of BigCommerce from $9.50 to $8.50 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Morgan Stanley cut their price objective on BigCommerce from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, BigCommerce currently has an average rating of "Hold" and an average price target of $7.58.

BigCommerce Stock Performance

Shares of BIGC traded down $0.03 during trading hours on Friday, hitting $5.00. The company had a trading volume of 68,952 shares, compared to its average volume of 852,032. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The business has a fifty day moving average of $5.28 and a 200-day moving average of $6.11. BigCommerce Holdings, Inc. has a 12 month low of $4.85 and a 12 month high of $8.60. The firm has a market cap of $400.09 million, a price-to-earnings ratio of -14.27 and a beta of 1.18.

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

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.