BigCommerce (NASDAQ:BIGC) Trading Down 10.1%

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s share price was down 10.1% during mid-day trading on Thursday . The company traded as low as $7.25 and last traded at $7.28. Approximately 370,017 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 687,096 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BIGC shares. Morgan Stanley cut their price objective on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research report on Friday, May 10th. Finally, Barclays increased their price target on shares of BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.63.

BigCommerce Stock Down 15.6 %

The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 12.63. The firm has a market capitalization of $528.60 million, a P/E ratio of -11.83 and a beta of 1.00. The company’s fifty day simple moving average is $7.98 and its 200 day simple moving average is $7.59.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. BigCommerce had a negative net margin of 15.39% and a negative return on equity of 109.97%. The business had revenue of $80.36 million during the quarter, compared to analyst estimates of $77.46 million. Research analysts expect that BigCommerce Holdings, Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Brent Bellm sold 31,907 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $266,423.45. Following the completion of the transaction, the insider now directly owns 719,939 shares in the company, valued at approximately $6,011,490.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BigCommerce news, insider Brent Bellm sold 31,907 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the completion of the sale, the insider now directly owns 719,939 shares in the company, valued at approximately $6,011,490.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Brian Singh Dhatt sold 5,787 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $48,321.45. Following the sale, the chief technology officer now owns 240,841 shares of the company’s stock, valued at $2,011,022.35. The disclosure for this sale can be found here. 9.06% of the stock is owned by company insiders.

Institutional Trading of BigCommerce

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of BigCommerce in the first quarter worth approximately $80,000. Virtu Financial LLC bought a new stake in BigCommerce during the 1st quarter worth approximately $104,000. Tower Research Capital LLC TRC raised its stake in BigCommerce by 719.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,178 shares of the company’s stock worth $109,000 after acquiring an additional 9,814 shares during the period. Versor Investments LP bought a new stake in BigCommerce during the 4th quarter worth approximately $129,000. Finally, Bayesian Capital Management LP bought a new stake in BigCommerce during the 1st quarter worth approximately $144,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.