Penserra Capital Management LLC Reduces Stock Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Penserra Capital Management LLC cut its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 734,650 shares of the company's stock after selling 57,616 shares during the period. Penserra Capital Management LLC owned approximately 0.93% of BigCommerce worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BIGC. Bank of New York Mellon Corp raised its position in shares of BigCommerce by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company's stock worth $7,730,000 after acquiring an additional 42,920 shares in the last quarter. US Bancorp DE raised its position in shares of BigCommerce by 15,736.8% in the 4th quarter. US Bancorp DE now owns 19,796 shares of the company's stock worth $121,000 after acquiring an additional 19,671 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in BigCommerce by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 561,022 shares of the company's stock valued at $3,433,000 after buying an additional 9,419 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in BigCommerce by 79.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,129 shares of the company's stock valued at $4,260,000 after buying an additional 308,384 shares in the last quarter. Finally, Monimus Capital Management LP bought a new stake in BigCommerce in the 4th quarter valued at about $1,938,000. 79.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays decreased their target price on BigCommerce from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Wall Street Zen lowered BigCommerce from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of BigCommerce in a research report on Wednesday, March 12th. 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. Finally, The Goldman Sachs Group decreased their price objective on BigCommerce from $9.50 to $8.50 and set a "neutral" rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, BigCommerce has an average rating of "Hold" and an average price target of $7.58.

BigCommerce Stock Performance

BigCommerce stock traded up $0.08 during trading on Tuesday, hitting $5.17. The stock had a trading volume of 551,543 shares, compared to its average volume of 837,805. BigCommerce Holdings, Inc. has a 1 year low of $4.73 and a 1 year high of $8.50. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.14. The stock's 50 day moving average is $5.07 and its two-hundred day moving average is $5.74. The stock has a market cap of $414.12 million, a price-to-earnings ratio of -19.15 and a beta of 1.15.

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, beating the consensus estimate of $0.06 by $0.01. BigCommerce had a negative return on equity of 33.21% and a negative net margin of 6.27%. The business had revenue of $82.37 million for the quarter, compared to the consensus estimate of $82.48 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. BigCommerce's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts predict that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

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.