Investors Purchase Large Volume of Call Options on BigCommerce (NASDAQ:BIGC)

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was the target of some unusual options trading activity on Monday. Traders purchased 7,516 call options on the company. This represents an increase of 1,620% compared to the average volume of 437 call options.

Insider Activity at BigCommerce

In other news, Director Ellen F. Siminoff purchased 177,158 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the purchase, the director now directly owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. The trade was a 232.57 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.06% of the stock is currently owned by company insiders.

Institutional Trading of BigCommerce

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

BigCommerce Stock Down 0.2 %

BIGC opened at $6.08 on Wednesday. The stock has a market cap of $477.89 million, a PE ratio of -17.37 and a beta of 1.13. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce has a 1-year low of $5.13 and a 1-year high of $8.60. The stock’s fifty day simple moving average is $6.42 and its 200 day simple moving average is $6.28.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on BIGC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a report on Wednesday, March 12th. Barclays cut BigCommerce from an “equal weight” rating to an “underweight” rating and decreased their price objective 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 given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, BigCommerce currently has a consensus rating of “Hold” and an average price target of $7.80.

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.