Needham Investment Management LLC Acquires 100,000 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Needham Investment Management LLC increased its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company’s stock after buying an additional 100,000 shares during the period. Needham Investment Management LLC’s holdings in BigCommerce were worth $3,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in 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 buying an additional 4,400 shares during the period. Headlands Technologies LLC boosted its holdings in BigCommerce by 260.5% in the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after buying an additional 7,181 shares during the period. Sanctuary Advisors LLC bought a new position in BigCommerce in the 4th quarter worth approximately $66,000. KLP Kapitalforvaltning AS bought a new position in BigCommerce in the 4th quarter worth approximately $70,000. Finally, Cubist Systematic Strategies LLC bought a new position in BigCommerce in the 4th quarter worth approximately $91,000. 79.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a report on Wednesday, March 12th. The Goldman Sachs Group cut their price target on shares of BigCommerce from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Friday. Barclays cut their price target on shares of BigCommerce from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, April 21st. Finally, Morgan Stanley cut their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, BigCommerce currently has an average rating of “Hold” and an average price target of $7.58.

Insider Transactions 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 stock was bought at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the acquisition, the director now owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. The trade was a 232.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.99% of the stock is currently owned by insiders.

BigCommerce Stock Performance

NASDAQ BIGC opened at $5.24 on Tuesday. BigCommerce Holdings, Inc. has a 52-week low of $4.85 and a 52-week high of $8.60. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The company has a market capitalization of $411.86 million, a P/E ratio of -14.97 and a beta of 1.18. The company has a fifty day moving average of $5.53 and a 200-day moving average of $6.17.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The company had revenue of $82.37 million during the quarter, compared to the consensus estimate of $82.48 million. During the same period in the previous year, the firm posted $0.07 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that BigCommerce Holdings, Inc. will post -0.16 EPS for the current fiscal year.

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.