Needham Investment Management LLC Raises Stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Needham Investment Management LLC grew its holdings 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 SEC. The fund owned 500,000 shares of the company's stock after acquiring an additional 100,000 shares during the period. Needham Investment Management LLC owned about 0.64% of BigCommerce worth $3,060,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of BigCommerce by 1.8% during the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company's stock valued at $10,859,000 after buying an additional 35,016 shares during the last quarter. Divisar Capital Management LLC grew its holdings in shares of BigCommerce by 48.5% during the fourth quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock valued at $11,457,000 after buying an additional 611,811 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $7,730,000 after buying an additional 42,920 shares during the last quarter. Millennium Management LLC grew its holdings in shares of BigCommerce by 1,073.1% during the fourth quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock valued at $7,620,000 after buying an additional 1,138,977 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of BigCommerce by 1.5% during the fourth quarter. Deutsche Bank AG now owns 990,275 shares of the company's stock valued at $6,060,000 after buying an additional 14,772 shares during the last quarter. Institutional investors own 79.21% of the company's stock.

Insiders Place Their Bets

In related news, Director Ellen F. Siminoff bought 177,158 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost 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 approximately $1,682,131.12. This trade represents a 232.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.99% of the company's stock.

BigCommerce Trading Down 1.0%

Shares of BigCommerce stock traded down $0.05 during trading on Friday, reaching $5.13. The company's stock had a trading volume of 688,032 shares, compared to its average volume of 862,635. BigCommerce Holdings, Inc. has a 52-week low of $4.85 and a 52-week high of $8.60. The company has a market cap of $403.22 million, a price-to-earnings ratio of -14.66 and a beta of 1.18. The firm's 50-day moving average is $5.46 and its two-hundred day moving average is $6.16. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48.

BigCommerce (NASDAQ:BIGC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The company had revenue of $82.37 million during the quarter, compared to analysts' expectations of $82.48 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm's revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

Analyst Ratings Changes

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

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.