CenterBook Partners LP Invests $3.62 Million in Commerce.com, Inc. $CMRC

CenterBook Partners LP purchased a new position in shares of Commerce.com, Inc. (NASDAQ:CMRC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 878,009 shares of the company’s stock, valued at approximately $3,617,000. CenterBook Partners LP owned about 1.08% of Commerce.com as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CMRC. AQR Capital Management LLC lifted its holdings in shares of Commerce.com by 2,028.0% during the first quarter. AQR Capital Management LLC now owns 278,583 shares of the company’s stock worth $1,605,000 after buying an additional 265,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Commerce.com by 15.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,826 shares of the company’s stock worth $483,000 after buying an additional 11,509 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Commerce.com in the fourth quarter valued at $50,000. CWM LLC acquired a new position in shares of Commerce.com in the fourth quarter valued at $159,000. Finally, M&T Bank Corp acquired a new position in shares of Commerce.com in the fourth quarter valued at $5,679,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Commerce.com Stock Performance

Shares of NASDAQ:CMRC opened at $2.77 on Tuesday. The business’s fifty day moving average price is $2.87 and its two-hundred day moving average price is $3.33. Commerce.com, Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $5.55. The stock has a market capitalization of $228.55 million, a price-to-earnings ratio of -15.39 and a beta of 1.17. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.98 and a quick ratio of 1.98.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen upgraded Commerce.com from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. UBS Group set a $3.00 target price on Commerce.com in a research note on Friday, February 13th. Canaccord Genuity Group cut their target price on Commerce.com from $11.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Barclays upped their target price on Commerce.com from $2.00 to $3.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Commerce.com in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Commerce.com presently has an average rating of “Hold” and an average price target of $4.70.

About Commerce.com

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.