Needham Investment Management LLC Acquires 100,000 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Needham Investment Management LLC boosted its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 500,000 shares of the company's stock after buying an additional 100,000 shares during the quarter. Needham Investment Management LLC owned 0.64% of BigCommerce worth $3,060,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its holdings in BigCommerce by 154.9% during the third quarter. Barclays PLC now owns 116,667 shares of the company's stock worth $682,000 after acquiring an additional 70,902 shares during the period. Virtu Financial LLC grew its holdings in BigCommerce by 56.9% during the fourth quarter. Virtu Financial LLC now owns 16,333 shares of the company's stock worth $100,000 after acquiring an additional 5,926 shares during the period. New York State Common Retirement Fund grew its holdings in BigCommerce by 105.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company's stock worth $53,000 after acquiring an additional 4,400 shares during the period. Renaissance Technologies LLC grew its holdings in BigCommerce by 6.7% during the fourth 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 during the period. Finally, Bank of New York Mellon Corp grew its holdings in BigCommerce by 3.5% during the fourth 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 during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BigCommerce

In other news, Director Ellen F. Siminoff bought 177,158 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the transaction, the director now owns 253,333 shares in the company, valued at $1,682,131.12. This represents a 232.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on BIGC shares. Barclays lowered their target price on BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Morgan Stanley reduced their target price on BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on BigCommerce from $9.50 to $8.50 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of BigCommerce in a report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.58.

BigCommerce Trading Down 1.0%

NASDAQ:BIGC traded down $0.05 during mid-day trading on Friday, hitting $5.13. The company had a trading volume of 688,032 shares, compared to its average volume of 862,037. The firm has a market cap of $403.22 million, a P/E ratio of -14.66 and a beta of 1.18. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The business's fifty day moving average is $5.48 and its two-hundred day moving average is $6.16. BigCommerce Holdings, Inc. has a fifty-two week low of $4.85 and a fifty-two week high of $8.60.

BigCommerce (NASDAQ:BIGC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates 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%. BigCommerce's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. As a group, research analysts expect that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

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.