Commonwealth Equity Services LLC Sells 68,999 Shares of Brightcove Inc. (NASDAQ:BCOV)

Commonwealth Equity Services LLC lowered its stake in shares of Brightcove Inc. (NASDAQ:BCOV) by 81.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,500 shares of the software maker’s stock after selling 68,999 shares during the period. Commonwealth Equity Services LLC’s holdings in Brightcove were worth $67,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BCOV. R Squared Ltd purchased a new position in shares of Brightcove in the 4th quarter worth about $90,000. JPMorgan Chase & Co. raised its position in shares of Brightcove by 99.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after buying an additional 15,291 shares in the last quarter. Bailard Inc. purchased a new position in shares of Brightcove in the 4th quarter worth about $156,000. Skandinaviska Enskilda Banken AB publ bought a new position in Brightcove during the fourth quarter valued at approximately $159,000. Finally, ABC Arbitrage SA purchased a new stake in Brightcove during the fourth quarter valued at about $1,038,000. 80.12% of the stock is owned by hedge funds and other institutional investors.

Brightcove Stock Performance

BCOV stock opened at $4.45 on Friday. The company has a market capitalization of $202.12 million, a price-to-earnings ratio of -21.19 and a beta of 1.01. The business’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $3.84. Brightcove Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $4.46.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Brightcove in a research report on Wednesday. They set a “buy” rating for the company.

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.