M&T Bank Corp Invests $5.68 Million in Commerce.com, Inc. $CMRC

Key Points

• M&T Bank bought a new position of 1,378,357 shares of Commerce.com (≈$5.68 million), representing about 1.70% ownership according to its latest 13F filing.
• Insider Ellen F. Siminoff acquired 100,000 shares at an average $2.94 (adding 39.47% to her stake) and insiders now own roughly 2.70% of the company.
• Analyst sentiment is weak — the average rating is Reduce with a consensus price target of $5.17 — while the stock trades near $3 (market cap ≈$247M) and carries a high debt-to-equity ratio of 3.89.

M&T Bank Corp purchased a new position in shares of Commerce.com, Inc. (NASDAQ:CMRC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,378,357 shares of the company's stock, valued at approximately $5,679,000. M&T Bank Corp owned approximately 1.70% of Commerce.com as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. CWM LLC acquired a new stake in shares of Commerce.com in the fourth quarter valued at $159,000. Pallas Capital Advisors LLC acquired a new stake in shares of Commerce.com in the fourth quarter valued at $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Commerce.com by 15.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,826 shares of the company's stock valued at $483,000 after acquiring an additional 11,509 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Commerce.com by 2,028.0% in the first quarter. AQR Capital Management LLC now owns 278,583 shares of the company's stock valued at $1,605,000 after acquiring an additional 265,492 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Commerce.com Stock Up 2.0%

Commerce.com stock opened at $3.00 on Friday. Commerce.com, Inc. has a 1-year low of $2.41 and a 1-year high of $5.59. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market cap of $246.60 million, a PE ratio of -13.04, a P/E/G ratio of 1.02 and a beta of 1.16. The stock's fifty day moving average is $2.79 and its two-hundred day moving average is $3.71.

Insiders Place Their Bets

In related news, insider Ellen F. Siminoff acquired 100,000 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were bought at an average price of $2.94 per share, with a total value of $294,000.00. Following the completion of the acquisition, the insider owned 353,333 shares in the company, valued at $1,038,799.02. This trade represents a 39.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Commerce.com in a research note on Monday, April 20th. UBS Group set a $3.00 target price on shares of Commerce.com in a report on Friday, February 13th. Barclays reduced their target price on shares of Commerce.com from $3.00 to $2.00 and set an "underweight" rating on the stock in a report on Tuesday, February 17th. Zacks Research cut shares of Commerce.com from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group reduced their target price on shares of Commerce.com from $11.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $5.17.

About Commerce.com

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. As of December 31, 2021, it served approximately 60,000 online stores across industries.

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