Pale Fire Capital SE Buys 2,203,169 Shares of Commerce.com, Inc. $CMRC

Key Points

• Pale Fire Capital SE increased its Commerce.com stake by 294.2% in the first quarter, buying 2.2 million additional shares and bringing its total holdings to 2.95 million shares worth about $7.88 million.
• Institutional ownership in Commerce.com remains high, with hedge funds and other investors holding about 79.21% of the company’s stock.
• Analyst sentiment is mixed: ratings range from buy to sell, and the stock’s average Wall Street target price is $4.80, above its Friday opening price of $2.71.

Pale Fire Capital SE boosted its stake in shares of Commerce.com, Inc. (NASDAQ:CMRC - Free Report) by 294.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,952,094 shares of the company's stock after purchasing an additional 2,203,169 shares during the period. Commerce.com comprises about 0.7% of Pale Fire Capital SE's investment portfolio, making the stock its 17th biggest position. Pale Fire Capital SE owned approximately 3.58% of Commerce.com worth $7,882,000 as of its most recent filing with the SEC.

• BigCommerce NASDAQ: BIGC Stock Providing Big Opportunities After Earnings Plunge

Several other hedge funds have also bought and sold shares of CMRC. Quarry LP bought a new position in shares of Commerce.com in the fourth quarter worth about $27,000. New York State Common Retirement Fund bought a new position in shares of Commerce.com during the 4th quarter valued at approximately $35,000. T3 Companies LLC bought a new position in shares of Commerce.com during the 4th quarter valued at approximately $41,000. Avondale Wealth Management bought a new position in shares of Commerce.com during the 4th quarter valued at approximately $41,000. Finally, R Squared Ltd purchased a new stake in Commerce.com in the 1st quarter worth approximately $45,000. Institutional investors own 79.21% of the company's stock.

Commerce.com Stock Performance

NASDAQ:CMRC opened at $2.71 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 3.26. Commerce.com, Inc. has a 12-month low of $2.41 and a 12-month high of $5.55. The stock has a 50-day moving average price of $2.92 and a 200 day moving average price of $2.98. The stock has a market capitalization of $223.60 million, a P/E ratio of -15.05 and a beta of 1.15.

Analyst Upgrades and Downgrades

• BigCommerce NASDAQ: BIGC Stock Breaking Out: The Next Big Thing in E-commerce?

A number of research firms have commented on CMRC. Barclays raised their target price on shares of Commerce.com from $2.00 to $3.00 and gave the stock an "underweight" rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Commerce.com from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Needham & Company LLC reissued a "buy" rating and issued a $7.50 price objective on shares of Commerce.com in a research note on Thursday, April 30th. Zacks Research downgraded shares of Commerce.com from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Commerce.com in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $4.80.

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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