Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Edenbrook Capital, Llc Acquires 2,973 Shares of Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc purchased 2,973 shares of the business’s stock in a transaction on Friday, May 20th. The shares were purchased at an average price of $6.85 per share, with a total value of $20,365.05. Following the completion of the purchase, the insider now owns 4,776,904 shares in the company, valued at $32,721,792.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

  • On Monday, May 23rd, Edenbrook Capital, Llc acquired 3 shares of Brightcove stock. The shares were bought at an average cost of $6.75 per share, with a total value of $20.25.
  • On Wednesday, May 18th, Edenbrook Capital, Llc acquired 485 shares of Brightcove stock. The shares were bought at an average cost of $6.85 per share, with a total value of $3,322.25.
  • On Monday, May 16th, Edenbrook Capital, Llc acquired 16,000 shares of Brightcove stock. The shares were bought at an average cost of $6.88 per share, with a total value of $110,080.00.
  • On Monday, May 9th, Edenbrook Capital, Llc purchased 5,400 shares of Brightcove stock. The stock was bought at an average price of $6.72 per share, with a total value of $36,288.00.
  • On Thursday, May 5th, Edenbrook Capital, Llc bought 9,581 shares of Brightcove stock. The shares were acquired at an average price of $6.79 per share, with a total value of $65,054.99.
  • On Wednesday, April 27th, Edenbrook Capital, Llc bought 4,900 shares of Brightcove stock. The shares were acquired at an average price of $6.62 per share, with a total value of $32,438.00.

Brightcove stock opened at $6.78 on Wednesday. Brightcove Inc. has a 52 week low of $6.52 and a 52 week high of $15.00. The company has a market capitalization of $281.72 million, a price-to-earnings ratio of -226.00 and a beta of 0.79. The stock has a 50-day moving average price of $7.35 and a 200 day moving average price of $8.56.

Brightcove (NASDAQ:BCOVGet Rating) last released its earnings results on Wednesday, April 27th. The software maker reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. Brightcove had a positive return on equity of 3.99% and a negative net margin of 0.65%. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, analysts expect that Brightcove Inc. will post -0.04 EPS for the current fiscal year.

Several analysts have recently weighed in on the company. Lake Street Capital reiterated a “hold” rating and set a $9.00 target price (down from $14.00) on shares of Brightcove in a research report on Thursday, February 17th. Zacks Investment Research upgraded Brightcove from a “hold” rating to a “strong-buy” rating and set a $8.00 price objective for the company in a report on Wednesday, May 4th. StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a report on Sunday, May 15th. Finally, TheStreet downgraded Brightcove from a “c” rating to a “d” rating in a report on Friday, April 29th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brightcove has an average rating of “Buy” and an average price target of $17.50.

Large investors have recently made changes to their positions in the business. Credit Suisse AG lifted its holdings in Brightcove by 20.8% in the third quarter. Credit Suisse AG now owns 19,554 shares of the software maker’s stock valued at $226,000 after acquiring an additional 3,361 shares during the period. Strs Ohio lifted its holdings in Brightcove by 203.4% in the fourth quarter. Strs Ohio now owns 27,000 shares of the software maker’s stock valued at $275,000 after acquiring an additional 18,100 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in Brightcove by 53.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 10,416 shares of the software maker’s stock valued at $120,000 after acquiring an additional 3,607 shares during the period. Dupont Capital Management Corp acquired a new position in Brightcove in the fourth quarter valued at approximately $155,000. Finally, AXA S.A. acquired a new position in shares of Brightcove during the 3rd quarter worth approximately $1,687,000. 84.67% of the stock is owned by institutional investors.

About Brightcove (Get Rating)

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

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