Clearline Capital LP Trims Stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Clearline Capital LP trimmed its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 26.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,182,957 shares of the company’s stock after selling 428,662 shares during the period. Clearline Capital LP’s holdings in BigCommerce were worth $7,240,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. New York State Common Retirement Fund lifted its stake in BigCommerce by 105.3% in the fourth 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. Headlands Technologies LLC raised its stake in shares of BigCommerce by 260.5% during the fourth quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after purchasing an additional 7,181 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of BigCommerce in the 3rd quarter worth $61,000. Sanctuary Advisors LLC purchased a new stake in BigCommerce in the 4th quarter valued at approximately $66,000. Finally, KLP Kapitalforvaltning AS acquired a new position in BigCommerce during the fourth quarter worth $70,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Stock Up 0.3 %

Shares of BigCommerce stock opened at $5.19 on Thursday. The company has a fifty day moving average price of $5.62 and a 200 day moving average price of $6.16. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce Holdings, Inc. has a twelve month low of $4.85 and a twelve month high of $8.60. The stock has a market cap of $407.54 million, a price-to-earnings ratio of -14.81 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC) last released its quarterly 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). The firm had revenue of $87.03 million for the quarter, compared to analysts’ expectations of $86.90 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. Equities research analysts forecast that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ellen F. Siminoff acquired 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 purchase, the director now directly owns 253,333 shares of the company’s stock, valued at $1,682,131.12. This represents a 232.57 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BIGC shares. Morgan Stanley dropped their price objective on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Barclays decreased their price objective on shares of BigCommerce from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.40.

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.