Millennium Management LLC Has $7.62 Million Holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Millennium Management LLC grew its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 1,073.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,245,111 shares of the company's stock after purchasing an additional 1,138,977 shares during the quarter. Millennium Management LLC owned 1.59% of BigCommerce worth $7,620,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Divisar Capital Management LLC increased its position in shares of 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. Bank of New York Mellon Corp increased its position in shares of BigCommerce by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company's stock valued at $7,730,000 after purchasing an additional 42,920 shares during the period. Deutsche Bank AG boosted its stake in shares of BigCommerce by 1.5% during the 4th quarter. Deutsche Bank AG now owns 990,275 shares of the company's stock worth $6,060,000 after acquiring an additional 14,772 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of BigCommerce by 6.7% during the 4th quarter. Renaissance Technologies LLC now owns 880,005 shares of the company's stock worth $5,386,000 after acquiring an additional 55,353 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BigCommerce by 79.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,129 shares of the company's stock worth $4,260,000 after acquiring an additional 308,384 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BIGC shares. Barclays reduced their price objective on BigCommerce from $7.00 to $6.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of BigCommerce in a research note on Wednesday, March 12th. The Goldman Sachs Group decreased their target price on BigCommerce from $9.50 to $8.50 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.58.

BigCommerce Stock Up 0.4%

Shares of BigCommerce stock traded up $0.02 during midday trading on Friday, hitting $5.04. The company's stock had a trading volume of 1,734,411 shares, compared to its average volume of 857,647. The firm has a market capitalization of $403.69 million, a P/E ratio of -14.40 and a beta of 1.18. BigCommerce Holdings, Inc. has a 1-year low of $4.85 and a 1-year high of $8.60. 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 stock has a 50-day simple moving average of $5.26 and a 200-day simple moving average of $6.10.

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

Insider Buying and Selling

In other news, Director Ellen F. Siminoff acquired 177,158 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the transaction, the director now owns 253,333 shares of the company's stock, valued at approximately $1,682,131.12. This represents a 232.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.99% of the stock is owned by corporate insiders.

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.