12,980 Shares in Brightcove Inc. (NASDAQ:BCOV) Bought by Keel Point LLC

Keel Point LLC bought a new position in Brightcove Inc. (NASDAQ:BCOV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,980 shares of the software maker’s stock, valued at approximately $34,000.

Several other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in Brightcove by 55.3% in the 4th quarter. Mackenzie Financial Corp now owns 22,993 shares of the software maker’s stock worth $60,000 after acquiring an additional 8,186 shares during the period. Werba Rubin Papier Wealth Management acquired a new stake in Brightcove in the 4th quarter worth $27,000. SG Americas Securities LLC grew its position in Brightcove by 32.0% in the 4th quarter. SG Americas Securities LLC now owns 25,612 shares of the software maker’s stock worth $66,000 after purchasing an additional 6,210 shares during the last quarter. 17 Capital Partners LLC acquired a new stake in Brightcove in the 4th quarter worth $36,000. Finally, Vanguard Group Inc. grew its position in Brightcove by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,802,415 shares of the software maker’s stock worth $9,220,000 after purchasing an additional 54,754 shares during the last quarter. Institutional investors own 80.12% of the company’s stock.

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 30,000 shares of Brightcove stock in a transaction on Wednesday, March 20th. The shares were purchased at an average cost of $1.88 per share, for a total transaction of $56,400.00. Following the completion of the transaction, the insider now directly owns 6,435,437 shares in the company, valued at $12,098,621.56. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 56,541 shares of company stock worth $102,598 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Lake Street Capital restated a “hold” rating and issued a $3.00 price target on shares of Brightcove in a research report on Friday, February 23rd. Rosenblatt Securities decreased their price target on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd.

Brightcove Stock Performance

Shares of Brightcove stock opened at $1.70 on Thursday. The firm’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $2.38. Brightcove Inc. has a twelve month low of $1.63 and a twelve month high of $4.56. The firm has a market cap of $75.50 million, a P/E ratio of -3.15 and a beta of 0.68.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Thursday, February 22nd. The software maker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. The business had revenue of $50.16 million for the quarter. On average, equities analysts forecast that Brightcove Inc. will post -0.33 earnings per share for the current fiscal year.

Brightcove Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.