Bigcommerce (NASDAQ:BIGC) Stock Price Down 2.5% – Here’s Why

Bigcommerce Holdings, Inc. (NASDAQ:BIGC) shares dropped 2.5% during trading on Thursday . The stock traded as low as $3.0750 and last traded at $3.10. Approximately 735,450 shares were traded during trading, The stock had previously closed at $3.18.

Bigcommerce Trading Down 2.5%

The stock has a 50-day moving average of $4.16. The company has a market cap of $248.30 million, a PE ratio of -14.09 and a beta of 1.15.

Hedge Funds Weigh In On Bigcommerce

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Bigcommerce by 2.9% in the third quarter. Vanguard Group Inc. now owns 7,832,573 shares of the company’s stock worth $39,085,000 after purchasing an additional 218,624 shares during the period. Divisar Capital Management LLC grew its position in shares of Bigcommerce by 1.1% during the 3rd quarter. Divisar Capital Management LLC now owns 4,610,948 shares of the company’s stock worth $23,009,000 after buying an additional 50,623 shares during the period. Marshall Wace LLP raised its stake in shares of Bigcommerce by 25.7% during the second quarter. Marshall Wace LLP now owns 2,035,956 shares of the company’s stock worth $10,180,000 after buying an additional 416,298 shares during the last quarter. CenterBook Partners LP lifted its holdings in Bigcommerce by 82.2% in the second quarter. CenterBook Partners LP now owns 1,288,808 shares of the company’s stock valued at $6,444,000 after buying an additional 581,548 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Bigcommerce by 82.6% in the second quarter. Acadian Asset Management LLC now owns 1,260,708 shares of the company’s stock valued at $6,299,000 after acquiring an additional 570,160 shares during the last quarter. Institutional investors own 79.21% of the company’s stock.

About Bigcommerce

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.