Insider Buying: Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Acquires $41,400.00 in Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $2.07 per share, with a total value of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Wednesday, September 18th, Edenbrook Capital, Llc acquired 2,096 shares of Brightcove stock. The stock was bought at an average cost of $2.00 per share, with a total value of $4,192.00.
• On Tuesday, September 10th, Edenbrook Capital, Llc acquired 5,230 shares of Brightcove stock. The stock was bought at an average cost of $2.04 per share, with a total value of $10,669.20.
• On Friday, September 6th, Edenbrook Capital, Llc acquired 11,600 shares of Brightcove stock. The stock was bought at an average cost of $2.04 per share, with a total value of $23,664.00.
• On Monday, August 12th, Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock. The stock was bought at an average cost of $1.98 per share, with a total value of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc purchased 30,000 shares of Brightcove stock. The stock was acquired at an average cost of $2.01 per share, with a total value of $60,300.00.

Brightcove Trading Down 1.3 %

NASDAQ:BCOV opened at $2.34 on Thursday. Brightcove Inc. has a 12 month low of $1.55 and a 12 month high of $3.18. The stock has a 50 day moving average of $2.16 and a two-hundred day moving average of $2.09. The firm has a market cap of $104.32 million, a P/E ratio of -10.64 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. The company had revenue of $49.25 million during the quarter. During the same quarter last year, the firm posted ($0.07) earnings per share. On average, research analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Institutional Investors Weigh In On Brightcove

Several large investors have recently bought and sold shares of BCOV. Pitcairn Co. purchased a new stake in shares of Brightcove in the first quarter valued at approximately $27,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Brightcove in the first quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Brightcove in the first quarter valued at approximately $33,000. Aaron Wealth Advisors LLC purchased a new position in Brightcove in the second quarter worth approximately $34,000. Finally, XTX Topco Ltd purchased a new position in Brightcove in the second quarter worth approximately $36,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

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.