Vanguard Group Inc. Sells 1,411,472 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Vanguard Group Inc. lowered its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 15.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,769,602 shares of the company's stock after selling 1,411,472 shares during the period. Vanguard Group Inc. owned about 9.91% of BigCommerce worth $47,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIGC. New York State Common Retirement Fund grew its holdings in shares of BigCommerce by 105.3% in the 4th 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 last quarter. Virtu Financial LLC acquired a new stake in BigCommerce during the 3rd quarter worth about $61,000. Sanctuary Advisors LLC purchased a new stake in BigCommerce during the fourth quarter valued at about $66,000. KLP Kapitalforvaltning AS purchased a new stake in shares of BigCommerce in the 4th quarter valued at approximately $70,000. Finally, HighTower Advisors LLC boosted its stake in BigCommerce by 16.8% in the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company's stock worth $89,000 after purchasing an additional 2,200 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

BigCommerce Price Performance

BigCommerce stock traded down $0.03 during mid-day trading on Thursday, reaching $5.07. 89,552 shares of the company were exchanged, compared to its average volume of 859,125. The firm has a market cap of $398.11 million, a PE ratio of -14.47 and a beta of 1.17. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The company has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $6.22. BigCommerce Holdings, Inc. has a 12 month low of $4.91 and a 12 month high of $8.60.

BigCommerce (NASDAQ:BIGC - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The company had revenue of $87.03 million for the quarter, compared to the consensus estimate of $86.90 million. As a group, equities research analysts expect that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity at BigCommerce

In related news, Director Ellen F. Siminoff acquired 177,158 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the acquisition, the director now owns 253,333 shares of the company's stock, valued at approximately $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays downgraded shares of BigCommerce from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $8.00 to $7.00 in a research report on Friday, January 10th. 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of BigCommerce in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.60.

BigCommerce 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.