Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Edenbrook Capital, Llc Purchases 10,000 Shares

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 10,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were bought at an average price of $1.68 per share, with a total value of $16,800.00. Following the purchase, the insider now owns 6,465,802 shares in the company, valued at $10,862,547.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, April 12th, Edenbrook Capital, Llc purchased 6,351 shares of Brightcove stock. The shares were bought at an average price of $1.70 per share, with a total value of $10,796.70.
• On Wednesday, April 10th, Edenbrook Capital, Llc purchased 5,000 shares of Brightcove stock. The shares were bought at an average price of $1.80 per share, with a total value of $9,000.00.
• On Tuesday, April 2nd, Edenbrook Capital, Llc acquired 5,190 shares of Brightcove stock. The stock was acquired at an average price of $1.85 per share, with a total value of $9,601.50.
• On Wednesday, March 20th, Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock. The stock was acquired at an average price of $1.88 per share, with a total value of $56,400.00.

Brightcove Price Performance

BCOV opened at $1.74 on Friday. The company has a fifty day moving average price of $1.97 and a 200-day moving average price of $2.37. The firm has a market capitalization of $77.27 million, a P/E ratio of -3.22 and a beta of 0.68. Brightcove Inc. has a one year low of $1.63 and a one year high of $4.56.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $50.16 million during the quarter. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. On average, analysts expect that Brightcove Inc. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Werba Rubin Papier Wealth Management purchased a new position in shares of Brightcove during the 4th quarter valued at $27,000. Tower Research Capital LLC TRC grew its position in shares of Brightcove by 386.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the software maker’s stock valued at $28,000 after purchasing an additional 4,954 shares in the last quarter. Keel Point LLC purchased a new position in shares of Brightcove during the 4th quarter valued at $34,000. Ameriprise Financial Inc. bought a new stake in shares of Brightcove during the 3rd quarter worth $35,000. Finally, 17 Capital Partners LLC bought a new stake in shares of Brightcove during the 4th quarter worth $36,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Lake Street Capital reiterated a “hold” rating and issued a $3.00 price objective on shares of Brightcove in a research note on Friday, February 23rd. StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Rosenblatt Securities reduced their price objective on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, February 23rd.

Brightcove Company Profile

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.