Bigcommerce (NASDAQ:BIGC) Stock Price Down 2.5% – What’s Next?

Bigcommerce Holdings, Inc. (NASDAQ:BIGC)’s share price dropped 2.5% during mid-day trading on Thursday . The company traded as low as $3.0750 and last traded at $3.10. Approximately 735,450 shares traded hands during trading, The stock had previously closed at $3.18.

Bigcommerce Stock Down 2.5%

The stock has a market cap of $248.30 million, a PE ratio of -14.09 and a beta of 1.15. The business’s 50-day moving average price is $4.16.

Institutional Investors Weigh In On Bigcommerce

Hedge funds and other institutional investors have recently bought and sold shares of the business. CenterBook Partners LP boosted its stake in Bigcommerce by 82.2% in the second quarter. CenterBook Partners LP now owns 1,288,808 shares of the company’s stock worth $6,444,000 after purchasing an additional 581,548 shares in the last quarter. Acadian Asset Management LLC lifted its position in Bigcommerce by 82.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,260,708 shares of the company’s stock worth $6,299,000 after buying an additional 570,160 shares in the last quarter. Marshall Wace LLP grew its holdings in Bigcommerce by 25.7% during the 2nd quarter. Marshall Wace LLP now owns 2,035,956 shares of the company’s stock worth $10,180,000 after acquiring an additional 416,298 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Bigcommerce by 167.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 587,883 shares of the company’s stock valued at $2,939,000 after acquiring an additional 368,359 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Bigcommerce by 490.4% in the second quarter. Legal & General Group Plc now owns 395,759 shares of the company’s stock worth $1,979,000 after acquiring an additional 328,725 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

About Bigcommerce

BigCommerce Holdings, Inc (NASDAQ: BIGC) is a software-as-a-service (SaaS) company that provides a cloud-based e-commerce platform designed to help merchants create, manage and scale online stores. Its platform offers a suite of tools including storefront design and customization, shopping cart functionality, payment gateway integrations, order management, shipping and tax solutions, and security features. The open architecture of its API-driven platform enables businesses to connect with a wide range of third-party applications, marketplaces and digital channels.

The company was founded in 2009 by Eddie Machaalani and Mitchell Harper and is headquartered in Austin, Texas, with additional offices in San Francisco and Sydney.