Brightcove (NASDAQ:BCOV) Now Covered by StockNews.com

StockNews.com began coverage on shares of Brightcove (NASDAQ:BCOV) in a research note issued to investors on Wednesday. The firm issued a buy rating on the software maker’s stock.

Several other equities research analysts have also recently commented on BCOV. Lake Street Capital cut Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Rosenblatt Securities reiterated a “neutral” rating and set a $4.45 target price (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th.

Brightcove Stock Performance

NASDAQ:BCOV opened at $4.33 on Wednesday. Brightcove has a 52 week low of $1.55 and a 52 week high of $4.39. The firm’s fifty day moving average is $3.16 and its 200-day moving average is $2.55. The firm has a market cap of $195.44 million, a P/E ratio of -20.62 and a beta of 1.02.

Insiders Place Their Bets

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $2.07 per share, with a total value of $41,400.00. Following the purchase, the insider now directly owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 30,062 shares of company stock worth $62,263 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCOV. XTX Topco Ltd purchased a new position in shares of Brightcove in the second quarter valued at $36,000. Wedbush Securities Inc. bought a new stake in Brightcove during the second quarter worth approximately $47,000. Allspring Global Investments Holdings LLC bought a new position in shares of Brightcove during the 2nd quarter valued at approximately $53,000. Cubist Systematic Strategies LLC purchased a new position in Brightcove during the second quarter worth $54,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Brightcove during the second quarter valued at $142,000. Institutional investors own 80.12% of the company’s stock.

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.