Allspring Global Investments Holdings LLC Has $124,000 Position in Brightcove Inc. (NASDAQ:BCOV)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Brightcove Inc. (NASDAQ:BCOV) by 31.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,901 shares of the software maker’s stock after selling 21,584 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Brightcove were worth $124,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Werba Rubin Papier Wealth Management bought a new stake in Brightcove during the 4th quarter worth approximately $27,000. 17 Capital Partners LLC purchased a new position in shares of Brightcove during the fourth quarter valued at approximately $36,000. SG Americas Securities LLC bought a new stake in Brightcove during the third quarter worth $64,000. Quadrature Capital Ltd increased its stake in Brightcove by 64.6% in the 3rd quarter. Quadrature Capital Ltd now owns 40,250 shares of the software maker’s stock valued at $132,000 after buying an additional 15,796 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Brightcove by 22.2% during the 3rd quarter. Barclays PLC now owns 57,390 shares of the software maker’s stock valued at $189,000 after purchasing an additional 10,420 shares during the last quarter. 80.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities lowered their price target on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Lake Street Capital reissued a “hold” rating and issued a $3.00 target price on shares of Brightcove in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd.

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 30,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average cost of $1.88 per share, with a total value of $56,400.00. Following the completion of the acquisition, the insider now owns 6,435,437 shares in the company, valued at approximately $12,098,621.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 56,541 shares of company stock valued at $102,598 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Brightcove Stock Performance

Brightcove stock opened at $1.63 on Monday. The firm has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $2.31. Brightcove Inc. has a 1-year low of $1.55 and a 1-year high of $4.56. The firm has a market capitalization of $72.38 million, a price-to-earnings ratio of -3.02 and a beta of 0.68.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $50.16 million during the quarter. Brightcove had a negative return on equity of 17.02% and a negative net margin of 11.38%. On average, equities research analysts forecast that Brightcove Inc. will post -0.33 EPS for the current year.

Brightcove Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.