Jacobs Levy Equity Management Inc. Decreases Stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Jacobs Levy Equity Management Inc. lowered its stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 28.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 689,432 shares of the company’s stock after selling 272,502 shares during the period. Jacobs Levy Equity Management Inc. owned 0.90% of BigCommerce worth $4,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of BigCommerce during the first quarter worth $80,000. Tower Research Capital LLC TRC grew its position in BigCommerce by 719.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,178 shares of the company’s stock valued at $109,000 after buying an additional 9,814 shares during the period. Versor Investments LP acquired a new stake in BigCommerce during the fourth quarter valued at $129,000. Bayesian Capital Management LP acquired a new stake in BigCommerce during the first quarter valued at $144,000. Finally, Price T Rowe Associates Inc. MD grew its position in BigCommerce by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after buying an additional 3,188 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

BigCommerce Price Performance

BIGC traded down $0.17 on Wednesday, reaching $7.97. 249,394 shares of the company’s stock were exchanged, compared to its average volume of 685,018. BigCommerce Holdings, Inc. has a twelve month low of $5.62 and a twelve month high of $12.75. The stock’s fifty day moving average price is $7.98 and its 200-day moving average price is $7.59. 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 posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $80.36 million for the quarter, compared to analyst estimates of $77.46 million. BigCommerce had a negative net margin of 15.39% and a negative return on equity of 109.97%. On average, analysts anticipate that BigCommerce Holdings, Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms recently commented on BIGC. Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research report on Friday, May 10th. Barclays lifted their target price on shares of BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Finally, Morgan Stanley dropped their target price on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.63.

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.