Brightcove Inc. (NASDAQ:BCOV) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Brightcove Inc. (NASDAQ:BCOV) by 8.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 488,275 shares of the software maker’s stock after acquiring an additional 37,584 shares during the period. Geode Capital Management LLC owned approximately 1.08% of Brightcove worth $1,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Nantahala Capital Management LLC purchased a new stake in Brightcove in the 2nd quarter valued at approximately $3,114,000. First Eagle Investment Management LLC grew its holdings in Brightcove by 81.4% during the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after acquiring an additional 269,302 shares during the period. P.A.W. Capital Corp purchased a new position in Brightcove in the third quarter worth $540,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Brightcove by 1,124.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after purchasing an additional 225,482 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Brightcove by 17.3% during the 2nd 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 period. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BCOV has been the subject of several recent analyst reports. Lake Street Capital cut shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Rosenblatt Securities reissued a “neutral” rating and set a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Finally, StockNews.com started coverage on Brightcove in a research note on Friday, January 3rd. They issued a “buy” rating for the company.

Brightcove Trading Up 0.7 %

Shares of NASDAQ BCOV opened at $4.40 on Friday. The stock has a market cap of $198.60 million, a price-to-earnings ratio of -20.95 and a beta of 1.01. The company’s 50-day moving average price is $3.85 and its 200 day moving average price is $2.80. Brightcove Inc. has a 52 week low of $1.55 and a 52 week high of $4.40.

Brightcove Company 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.