Bigcommerce (NASDAQ:BIGC) Trading Up 12.7% – Still a Buy?

Shares of Bigcommerce Holdings, Inc. (NASDAQ:BIGC) shot up 12.7% during trading on Wednesday . The company traded as high as $3.25 and last traded at $3.20. 1,083,159 shares traded hands during trading, an increase of 36% from the average session volume of 798,526 shares. The stock had previously closed at $2.84.

Bigcommerce Price Performance

The stock has a market cap of $253.11 million, a price-to-earnings ratio of -14.36 and a beta of 1.15. The company’s fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $2.98.

Institutional Investors Weigh In On Bigcommerce

A number of institutional investors and hedge funds have recently made changes to their positions in BIGC. Vanguard Group Inc. lifted its position in Bigcommerce by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,832,573 shares of the company’s stock valued at $39,085,000 after acquiring an additional 218,624 shares in the last quarter. Millennium Management LLC increased its holdings in Bigcommerce by 19.7% during the 3rd quarter. Millennium Management LLC now owns 647,454 shares of the company’s stock worth $3,231,000 after purchasing an additional 106,754 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Bigcommerce by 167.8% in the second quarter. Qube Research & Technologies Ltd now owns 587,883 shares of the company’s stock worth $2,939,000 after purchasing an additional 368,359 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Bigcommerce by 50.3% in the second quarter. Jane Street Group LLC now owns 378,208 shares of the company’s stock worth $1,891,000 after purchasing an additional 126,576 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Bigcommerce by 352.7% in the third quarter. UBS Group AG now owns 253,297 shares of the company’s stock valued at $1,264,000 after purchasing an additional 197,345 shares in the last quarter. Institutional investors and hedge funds own 79.21% of the company’s stock.

Bigcommerce Company Profile

BigCommerce Holdings, Inc (NASDAQ: BIGC) is a software-as-a-service (SaaS) company that provides a cloud-based e-commerce platform designed to help merchants create, manage and scale online stores. Its platform offers a suite of tools including storefront design and customization, shopping cart functionality, payment gateway integrations, order management, shipping and tax solutions, and security features. The open architecture of its API-driven platform enables businesses to connect with a wide range of third-party applications, marketplaces and digital channels.

The company was founded in 2009 by Eddie Machaalani and Mitchell Harper and is headquartered in Austin, Texas, with additional offices in San Francisco and Sydney.