Brightcove (NASDAQ:BCOV) Earns Neutral Rating from Rosenblatt Securities

Brightcove (NASDAQ:BCOV)‘s stock had its “neutral” rating reissued by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $4.45 price objective on the software maker’s stock, down from their previous price objective of $5.00. Rosenblatt Securities’ price target indicates a potential upside of 3.25% from the stock’s current price.

BCOV has been the topic of a number of other reports. Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and raised their price objective for the company from $2.75 to $3.50 in a report on Tuesday, November 5th. StockNews.com downgraded Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Brightcove Trading Down 0.2 %

NASDAQ:BCOV opened at $4.31 on Monday. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.33. The firm has a market cap of $194.54 million, a PE ratio of -20.57 and a beta of 0.74. The stock has a fifty day moving average price of $2.43 and a 200 day moving average price of $2.29.

Insider Activity at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the purchase, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 48,988 shares of company stock valued at $100,789 over the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Brightcove

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new stake in Brightcove in the 1st quarter valued at $29,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Brightcove during the second quarter worth about $34,000. XTX Topco Ltd purchased a new position in shares of Brightcove during the second quarter worth about $36,000. State Board of Administration of Florida Retirement System grew its holdings in shares of Brightcove by 89.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after buying an additional 10,120 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in Brightcove in the 2nd quarter valued at about $47,000. 80.12% of the stock is owned by institutional investors and hedge funds.

About Brightcove

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.