Insider Buying: Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Acquires 3,250 Shares of Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc purchased 3,250 shares of the business’s stock in a transaction on Tuesday, June 21st. The stock was purchased at an average cost of $6.47 per share, for a total transaction of $21,027.50. Following the acquisition, the insider now owns 4,807,064 shares in the company, valued at $31,101,704.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

  • On Wednesday, June 15th, Edenbrook Capital, Llc purchased 2,300 shares of Brightcove stock. The stock was purchased at an average cost of $6.43 per share, for a total transaction of $14,789.00.
  • On Monday, June 13th, Edenbrook Capital, Llc purchased 10 shares of Brightcove stock. The stock was purchased at an average cost of $6.51 per share, for a total transaction of $65.10.
  • On Monday, May 23rd, Edenbrook Capital, Llc purchased 3 shares of Brightcove stock. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $20.25.
  • On Friday, May 20th, Edenbrook Capital, Llc purchased 2,973 shares of Brightcove stock. The stock was purchased at an average cost of $6.85 per share, for a total transaction of $20,365.05.
  • On Wednesday, May 18th, Edenbrook Capital, Llc bought 485 shares of Brightcove stock. The shares were bought at an average cost of $6.85 per share, for a total transaction of $3,322.25.
  • On Monday, May 16th, Edenbrook Capital, Llc bought 16,000 shares of Brightcove stock. The shares were bought at an average cost of $6.88 per share, for a total transaction of $110,080.00.
  • On Monday, May 9th, Edenbrook Capital, Llc bought 5,400 shares of Brightcove stock. The shares were bought at an average cost of $6.72 per share, for a total transaction of $36,288.00.
  • On Thursday, May 5th, Edenbrook Capital, Llc bought 9,581 shares of Brightcove stock. The shares were bought at an average cost of $6.79 per share, for a total transaction of $65,054.99.
  • On Wednesday, April 27th, Edenbrook Capital, Llc bought 4,900 shares of Brightcove stock. The shares were bought at an average cost of $6.62 per share, for a total transaction of $32,438.00.

Brightcove stock traded up $0.22 during trading hours on Thursday, hitting $6.68. The stock had a trading volume of 105,243 shares, compared to its average volume of 195,773. The stock has a market capitalization of $277.57 million, a P/E ratio of -222.67 and a beta of 0.80. Brightcove Inc. has a 12-month low of $6.34 and a 12-month high of $14.80. The stock’s 50-day moving average price is $6.98 and its 200-day moving average price is $8.11.

Brightcove (NASDAQ:BCOVGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The software maker reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. Brightcove had a negative net margin of 0.65% and a positive return on equity of 3.99%. The firm had revenue of $53.38 million during the quarter, compared to analysts’ expectations of $50.57 million. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, equities analysts forecast that Brightcove Inc. will post -0.04 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Federated Hermes Inc. raised its holdings in shares of Brightcove by 162.0% during the first quarter. Federated Hermes Inc. now owns 2,205,445 shares of the software maker’s stock valued at $17,202,000 after purchasing an additional 1,363,779 shares during the last quarter. Lynrock Lake LP purchased a new position in shares of Brightcove during the fourth quarter valued at approximately $7,947,000. Trigran Investments Inc. raised its holdings in shares of Brightcove by 13.4% during the first quarter. Trigran Investments Inc. now owns 6,106,058 shares of the software maker’s stock valued at $47,627,000 after purchasing an additional 722,280 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Brightcove during the fourth quarter valued at approximately $3,158,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Brightcove by 3,776.8% during the fourth quarter. BNP Paribas Arbitrage SA now owns 299,288 shares of the software maker’s stock valued at $3,059,000 after purchasing an additional 291,568 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on BCOV shares. TheStreet cut shares of Brightcove from a “c” rating to a “d” rating in a research report on Friday, April 29th. StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a research report on Sunday, May 15th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

About Brightcove (Get Rating)

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

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