CenterBook Partners LP Reduces Stock Holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

CenterBook Partners LP decreased its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 38.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 707,260 shares of the company's stock after selling 442,286 shares during the quarter. CenterBook Partners LP owned approximately 0.90% of BigCommerce worth $4,074,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of BigCommerce by 12.1% in the 1st quarter. US Bancorp DE now owns 22,196 shares of the company's stock worth $128,000 after buying an additional 2,400 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of BigCommerce by 3.6% in the 1st quarter. Rhumbline Advisers now owns 101,451 shares of the company's stock worth $584,000 after buying an additional 3,535 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of BigCommerce by 10.0% in the 4th quarter. MetLife Investment Management LLC now owns 42,984 shares of the company's stock worth $263,000 after buying an additional 3,893 shares during the last quarter. LPL Financial LLC increased its holdings in shares of BigCommerce by 12.4% in the 4th quarter. LPL Financial LLC now owns 44,464 shares of the company's stock worth $272,000 after buying an additional 4,892 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of BigCommerce by 8,196.8% in the 1st quarter. GAMMA Investing LLC now owns 5,144 shares of the company's stock worth $30,000 after buying an additional 5,082 shares during the last quarter. Hedge funds and other institutional investors own 79.21% of the company's stock.

BigCommerce Trading Up 2.3%

BigCommerce stock traded up $0.11 during trading hours on Thursday, hitting $4.99. The company had a trading volume of 599,580 shares, compared to its average volume of 879,384. The firm has a market cap of $399.70 million, a P/E ratio of -18.48 and a beta of 1.15. The company has a debt-to-equity ratio of 4.14, a quick ratio of 2.34 and a current ratio of 2.34. BigCommerce Holdings, Inc. has a 1 year low of $4.73 and a 1 year high of $8.50. The company has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $5.68.

BigCommerce (NASDAQ:BIGC - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $82.37 million during the quarter, compared to analyst estimates of $82.48 million. BigCommerce had a negative net margin of 6.27% and a negative return on equity of 33.21%. BigCommerce's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. On average, sell-side analysts anticipate that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of BigCommerce from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. The Goldman Sachs Group dropped their price target on shares of 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 dropped their price target on shares of BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays dropped their price target on shares of BigCommerce from $7.00 to $6.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $7.58.

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.