KLP Kapitalforvaltning AS Buys New Shares in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

KLP Kapitalforvaltning AS purchased a new position in BigCommerce Holdings, Inc. (NASDAQ:BIGC) in the 4th quarter, Holdings Channel.com reports. The fund purchased 11,500 shares of the company’s stock, valued at approximately $70,000.

Several other institutional investors have also added to or reduced their stakes in the business. New York State Common Retirement Fund increased its holdings in shares of BigCommerce by 105.3% in the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after buying an additional 4,400 shares during the period. Virtu Financial LLC bought a new position in BigCommerce during the 3rd quarter worth approximately $61,000. Sanctuary Advisors LLC purchased a new position in BigCommerce in the 4th quarter worth approximately $66,000. HighTower Advisors LLC increased its stake in BigCommerce by 16.8% in the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock worth $89,000 after purchasing an additional 2,200 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in BigCommerce in the third quarter valued at approximately $105,000. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ellen F. Siminoff purchased 177,158 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 253,333 shares in the company, valued at approximately $1,682,131.12. This represents a 232.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.06% of the company’s stock.

BigCommerce Stock Up 0.4 %

NASDAQ:BIGC opened at $5.34 on Friday. The firm has a 50-day simple moving average of $6.21 and a two-hundred day simple moving average of $6.24. The firm has a market cap of $419.72 million, a P/E ratio of -15.26 and a beta of 1.17. BigCommerce Holdings, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $8.60. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $87.03 million for 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%. Analysts predict that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a report on Wednesday, March 12th. Barclays lowered shares of BigCommerce from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $7.00 in a report 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 stock. Based on data from MarketBeat, BigCommerce has a consensus rating of “Hold” and an average price target of $7.80.

BigCommerce Company Profile

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.