Russell Investments Group Ltd. Reduces Stock Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Russell Investments Group Ltd. lessened its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,897 shares of the company’s stock after selling 10,559 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of BigCommerce worth $397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. HighTower Advisors LLC increased its stake in BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock worth $89,000 after buying an additional 2,200 shares during the period. State Street Corp boosted its holdings in BigCommerce by 1.1% in the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after purchasing an additional 16,561 shares during the period. Jane Street Group LLC grew its stake in BigCommerce by 88.2% during the 3rd quarter. Jane Street Group LLC now owns 206,265 shares of the company’s stock worth $1,207,000 after purchasing an additional 96,667 shares in the last quarter. Barclays PLC grew its stake in BigCommerce by 154.9% during the 3rd quarter. Barclays PLC now owns 116,667 shares of the company’s stock worth $682,000 after purchasing an additional 70,902 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in BigCommerce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock worth $9,363,000 after acquiring an additional 21,105 shares in the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.

BigCommerce Stock Up 1.6 %

BigCommerce stock opened at $5.12 on Thursday. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce Holdings, Inc. has a fifty-two week low of $4.85 and a fifty-two week high of $8.60. The stock has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $6.20. The company has a market capitalization of $402.43 million, a P/E ratio of -14.63 and a beta of 1.17.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The business had revenue of $87.03 million for the quarter, compared to analysts’ expectations of $86.90 million. Equities research analysts expect that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

Insider Activity

In other BigCommerce news, Director Ellen F. Siminoff bought 177,158 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the purchase, the director now owns 253,333 shares in the company, valued at approximately $1,682,131.12. This represents a 232.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIGC shares. Morgan Stanley reduced their price objective on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Barclays cut their price target on BigCommerce from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, BigCommerce presently has a consensus rating of “Hold” and an average target price of $7.40.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.