Summit Global Investments Makes New $106,000 Investment in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Summit Global Investments purchased a new stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,390 shares of the company’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund increased its stake in shares of BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after purchasing an additional 4,400 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of BigCommerce in the third quarter valued at $61,000. Sanctuary Advisors LLC bought a new position in shares of BigCommerce during the 4th quarter worth about $66,000. HighTower Advisors LLC boosted its holdings in BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in BigCommerce during the third quarter worth $105,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BIGC shares. Barclays downgraded BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $7.00 in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.80.

Insider Buying and Selling at BigCommerce

In other BigCommerce news, Director Ellen F. Siminoff bought 177,158 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the purchase, the director now owns 253,333 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.06% of the company’s stock.

BigCommerce Stock Down 0.2 %

Shares of BIGC opened at $6.08 on Wednesday. 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 firm has a market capitalization of $477.89 million, a price-to-earnings ratio of -17.37 and a beta of 1.13. The business’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $6.28. BigCommerce Holdings, Inc. has a 52 week low of $5.13 and a 52 week high of $8.60.

BigCommerce (NASDAQ:BIGC) last issued its 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 during the quarter, compared to the consensus estimate of $86.90 million. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. On average, analysts predict that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current 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.