BigCommerce (NASDAQ:BIGC) Stock Price Down 5%

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s share price was down 5% during mid-day trading on Wednesday . The company traded as low as $7.38 and last traded at $7.38. Approximately 424,417 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 702,001 shares. The stock had previously closed at $7.77.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BIGC shares. Morgan Stanley decreased their price target on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Barclays lifted their price target on shares of BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of BigCommerce in a research note on Friday, May 10th. Finally, Bank of America reiterated an “underperform” rating and issued a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.63.

BigCommerce Stock Up 1.3 %

The firm’s 50-day moving average price is $7.78 and its two-hundred day moving average price is $7.70. The firm has a market cap of $598.15 million, a PE ratio of -12.09 and a beta of 1.00. The company has a debt-to-equity ratio of 12.63, a quick ratio of 5.06 and a current ratio of 5.06.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. BigCommerce had a negative net margin of 15.39% and a negative return on equity of 109.97%. The firm had revenue of $80.36 million during the quarter, compared to the consensus estimate of $77.46 million. As a group, equities research analysts expect that BigCommerce Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at BigCommerce

In other BigCommerce news, CTO Brian Singh Dhatt sold 5,787 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $48,321.45. Following the transaction, the chief technology officer now directly owns 240,841 shares of the company’s stock, valued at approximately $2,011,022.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other BigCommerce news, CTO Brian Singh Dhatt sold 5,787 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $48,321.45. Following the transaction, the chief technology officer now directly owns 240,841 shares of the company’s stock, valued at approximately $2,011,022.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brent Bellm sold 31,907 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the completion of the transaction, the insider now directly owns 719,939 shares in the company, valued at $6,011,490.65. The disclosure for this sale can be found here. 9.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of BigCommerce during the 1st quarter worth $104,000. Bayesian Capital Management LP acquired a new position in shares of BigCommerce during the 1st quarter worth $144,000. Price T Rowe Associates Inc. MD grew its stake in shares of BigCommerce by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock worth $350,000 after purchasing an additional 3,188 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of BigCommerce by 10.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,061,800 shares of the company’s stock worth $7,316,000 after purchasing an additional 102,100 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of BigCommerce by 42.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company’s stock worth $4,602,000 after purchasing an additional 198,638 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

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.