BigCommerce (NASDAQ:BIGC) Shares Gap Up Following Insider Buying Activity

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s stock price gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $5.76, but opened at $6.07. BigCommerce shares last traded at $6.34, with a volume of 129,272 shares.

Specifically, Director Ellen F. Siminoff bought 177,158 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the transaction, the director now owns 253,333 shares in the company, valued at $1,682,131.12. This trade represents a 232.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a research note on Friday, February 21st. Barclays lowered BigCommerce from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $8.00 to $7.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.80.

BigCommerce Stock Up 6.6 %

The stock has a market capitalization of $482.60 million, a PE ratio of -17.54 and a beta of 1.13. The business’s fifty day moving average price is $6.46 and its two-hundred day moving average price is $6.27. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BIGC. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BigCommerce in the fourth quarter valued at approximately $35,000. New York State Common Retirement Fund raised its holdings in BigCommerce by 105.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after purchasing an additional 4,400 shares in the last quarter. Virtu Financial LLC acquired a new stake in BigCommerce during the third quarter worth approximately $61,000. Headlands Technologies LLC lifted its position in shares of BigCommerce by 260.5% during the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after buying an additional 7,181 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of BigCommerce in the 4th quarter valued at $66,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

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.