Allspring Global Investments Holdings LLC Purchases 78,311 Shares of Brightcove Inc. (NASDAQ:BCOV)

Allspring Global Investments Holdings LLC raised its stake in Brightcove Inc. (NASDAQ:BCOVGet Rating) by 3,240.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,728 shares of the software maker’s stock after buying an additional 78,311 shares during the period. Allspring Global Investments Holdings LLC owned about 0.19% of Brightcove worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its position in shares of Brightcove by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 310,375 shares of the software maker’s stock worth $2,421,000 after purchasing an additional 1,420 shares during the period. Strs Ohio increased its stake in Brightcove by 5.9% during the 2nd quarter. Strs Ohio now owns 45,000 shares of the software maker’s stock valued at $284,000 after purchasing an additional 2,500 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Brightcove by 17.6% in the first quarter. MetLife Investment Management LLC now owns 16,811 shares of the software maker’s stock worth $131,000 after acquiring an additional 2,515 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Brightcove by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 176,470 shares of the software maker’s stock worth $1,377,000 after acquiring an additional 2,841 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of Brightcove by 2.3% in the second quarter. Commonwealth Equity Services LLC now owns 222,937 shares of the software maker’s stock worth $1,408,000 after acquiring an additional 5,000 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 100,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were bought at an average price of $5.59 per share, for a total transaction of $559,000.00. Following the acquisition, the insider now directly owns 5,467,760 shares of the company’s stock, valued at $30,564,778.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 255,074 shares of company stock worth $1,399,941. 3.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 3rd.

Brightcove Price Performance

Brightcove stock opened at $6.21 on Tuesday. The firm’s 50-day moving average is $5.46 and its two-hundred day moving average is $6.08. Brightcove Inc. has a 12-month low of $5.12 and a 12-month high of $9.85. The stock has a market capitalization of $261.27 million, a P/E ratio of -77.63 and a beta of 0.64.

Brightcove (NASDAQ:BCOVGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The software maker reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $53.90 million during the quarter, compared to the consensus estimate of $52.50 million. Brightcove had a negative net margin of 1.49% and a positive return on equity of 1.91%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, analysts forecast that Brightcove Inc. will post -0.1 EPS for the current year.

Brightcove Company Profile

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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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Institutional Ownership by Quarter for Brightcove (NASDAQ:BCOV)

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