BigCommerce (NASDAQ:BIGC) Coverage Initiated at DA Davidson

Research analysts at DA Davidson initiated coverage on shares of BigCommerce (NASDAQ:BIGC – Get Rating) in a report released on Wednesday, The Fly reports. The brokerage set a “neutral” rating and a $11.00 price target on the stock. DA Davidson’s price target would suggest a potential upside of 20.22% from the stock’s current price.

BIGC has been the subject of several other reports. Jefferies Financial Group dropped their target price on BigCommerce from $11.00 to $9.50 and set a “hold” rating for the company in a report on Monday, December 19th. Canaccord Genuity Group dropped their target price on BigCommerce from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, February 24th. Bank of America lowered BigCommerce from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $11.00 in a research note on Wednesday, January 4th. Morgan Stanley decreased their price target on BigCommerce from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, February 24th. Finally, Barclays decreased their target price on BigCommerce from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BigCommerce currently has a consensus rating of “Hold” and an average target price of $15.54.

BigCommerce Stock Down 3.3 %

Shares of BIGC opened at $9.15 on Wednesday. The company has a debt-to-equity ratio of 7.39, a quick ratio of 4.75 and a current ratio of 4.75. BigCommerce has a one year low of $7.74 and a one year high of $24.10. The stock has a market capitalization of $674.17 million, a price-to-earnings ratio of -4.79 and a beta of 0.66. The stock has a 50 day moving average price of $10.59 and a 200 day moving average price of $11.82.

Insider Transactions at BigCommerce

In other news, insider Robert Kaloustian sold 3,672 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $10.56, for a total transaction of $38,776.32. Following the completion of the sale, the insider now owns 47,001 shares in the company, valued at approximately $496,330.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brent Bellm sold 8,062 shares of BigCommerce stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $9.04, for a total value of $72,880.48. Following the transaction, the insider now directly owns 530,161 shares of the company’s stock, valued at approximately $4,792,655.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Kaloustian sold 3,672 shares of BigCommerce stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $10.56, for a total transaction of $38,776.32. Following the completion of the transaction, the insider now directly owns 47,001 shares in the company, valued at $496,330.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 587,642 shares of company stock worth $5,870,472. 31.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors have recently modified their holdings of the business. Belpointe Asset Management LLC acquired a new position in BigCommerce in the 4th quarter valued at $45,000. Advisors Asset Management Inc. increased its stake in BigCommerce by 81.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after buying an additional 1,673 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in BigCommerce by 351.3% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,831 shares of the company’s stock valued at $86,000 after buying an additional 4,539 shares during the period. Versor Investments LP acquired a new position in BigCommerce in the 4th quarter valued at $88,000. Finally, Essex Investment Management Co. LLC increased its stake in BigCommerce by 29.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 6,069 shares of the company’s stock valued at $90,000 after buying an additional 1,385 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

BigCommerce Company Profile

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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.