Brightcove Inc. (NASDAQ:BCOV – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.72 and traded as high as $4.38. Brightcove shares last traded at $4.33, with a volume of 2,269,580 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on BCOV shares. Lake Street Capital cut Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $4.45 target price (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Finally, StockNews.com started coverage on shares of Brightcove in a research note on Friday. They issued a “buy” rating on the stock.
View Our Latest Stock Analysis on BCOV
Brightcove Price Performance
Institutional Trading of Brightcove
A number of hedge funds and other institutional investors have recently modified their holdings of BCOV. Allspring Global Investments Holdings LLC purchased a new position in shares of Brightcove in the second quarter valued at approximately $53,000. Acadian Asset Management LLC lifted its stake in Brightcove by 17.3% during the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 139,049 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in Brightcove during the second quarter worth approximately $47,000. First Eagle Investment Management LLC lifted its position in shares of Brightcove by 81.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after buying an additional 269,302 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Brightcove in the 2nd quarter valued at $36,000. 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.
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