BigCommerce (NASDAQ:BIGC) Shares Gap Up on Insider Buying Activity

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $5.76, but opened at $6.07. BigCommerce shares last traded at $6.34, with a volume of 129,272 shares traded.

Specifically, Director Ellen F. Siminoff acquired 177,158 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the transaction, the director now owns 253,333 shares of the company’s stock, valued at $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BIGC shares. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a research note on Wednesday. Barclays downgraded BigCommerce from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $7.00 in a 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.80.

BigCommerce Trading Down 2.6 %

The firm has a market cap of $470.03 million, a price-to-earnings ratio of -17.09 and a beta of 1.13. The company’s 50 day simple moving average is $6.46 and its 200 day simple moving average is $6.26. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 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 analyst estimates 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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in BigCommerce by 1.8% during the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock worth $10,859,000 after purchasing an additional 35,016 shares in the last quarter. Divisar Capital Management LLC boosted its position in shares of BigCommerce by 48.5% in the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company’s stock valued at $11,457,000 after purchasing an additional 611,811 shares during the period. Clearline Capital LP grew its stake in BigCommerce by 69.7% during the 3rd quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock worth $9,428,000 after buying an additional 661,688 shares during the last quarter. Geode Capital Management LLC lifted its stake in BigCommerce by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock valued at $9,363,000 after buying an additional 21,105 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of BigCommerce by 1.1% in the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after acquiring an additional 16,561 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.