Summit Global Investments Buys New Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Summit Global Investments bought a new position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 17,390 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BIGC. Intech Investment Management LLC boosted its holdings in shares of BigCommerce by 53.5% in the 4th quarter. Intech Investment Management LLC now owns 29,399 shares of the company’s stock valued at $180,000 after buying an additional 10,248 shares during the last quarter. Monimus Capital Management LP acquired a new stake in BigCommerce in the 4th quarter valued at about $1,938,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in BigCommerce by 79.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,129 shares of the company’s stock worth $4,260,000 after purchasing an additional 308,384 shares during the period. Charles Schwab Investment Management Inc. increased its position in BigCommerce by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 561,022 shares of the company’s stock worth $3,433,000 after buying an additional 9,419 shares during the last quarter. Finally, US Bancorp DE raised its stake in BigCommerce by 15,736.8% in the fourth quarter. US Bancorp DE now owns 19,796 shares of the company’s stock valued at $121,000 after buying an additional 19,671 shares during the period. Institutional investors and hedge funds own 79.21% of the company’s stock.

BigCommerce Price Performance

BigCommerce stock opened at $6.08 on Wednesday. The firm has a market cap of $477.89 million, a PE ratio of -17.37 and a beta of 1.13. 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 stock’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $6.28. BigCommerce Holdings, Inc. has a one year low of $5.13 and a one year high of $8.60.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BIGC shares. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of BigCommerce in a report on Wednesday, March 12th. Barclays cut BigCommerce from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $8.00 to $7.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.80.

Insider Buying and Selling

In related news, Director Ellen F. Siminoff bought 177,158 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. This represents a 232.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 9.06% of the stock is owned by corporate insiders.

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.