BigCommerce Target of Unusually Large Options Trading (NASDAQ:BIGC)

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw some unusual options trading activity on Monday. Stock investors bought 7,516 call options on the stock. This is an increase of approximately 1,620% compared to the typical volume of 437 call options.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BIGC. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of BigCommerce in a research report on Wednesday, March 12th. Barclays lowered BigCommerce from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $8.00 to $7.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.80.

BigCommerce Price Performance

Shares of BIGC opened at $6.09 on Tuesday. BigCommerce has a fifty-two week low of $5.13 and a fifty-two week high of $8.60. The firm’s 50-day simple moving average is $6.42 and its two-hundred day simple moving average is $6.27. The stock has a market cap of $478.67 million, a PE ratio of -17.40 and a beta of 1.13. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81.

BigCommerce (NASDAQ:BIGC) last posted its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $87.03 million during the quarter, compared to the consensus estimate of $86.90 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. Analysts anticipate that BigCommerce will post -0.16 earnings per share for the current fiscal year.

Insider Activity at BigCommerce

In related news, Director Ellen F. Siminoff acquired 177,158 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the transaction, the director now owns 253,333 shares in the company, valued at approximately $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BigCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its position in shares of BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock worth $89,000 after purchasing an additional 2,200 shares in the last quarter. MetLife Investment Management LLC boosted its stake in BigCommerce by 10.0% in the 4th quarter. MetLife Investment Management LLC now owns 42,984 shares of the company’s stock worth $263,000 after purchasing an additional 3,893 shares during the period. New York State Common Retirement Fund grew its holdings in BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock valued at $53,000 after buying an additional 4,400 shares in the last quarter. LPL Financial LLC raised its position in shares of BigCommerce by 12.4% during the fourth quarter. LPL Financial LLC now owns 44,464 shares of the company’s stock valued at $272,000 after buying an additional 4,892 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BigCommerce in the fourth quarter worth $35,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

About BigCommerce

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.