BigCommerce (NASDAQ:BIGC) Shares Gap Up After Insider Buying Activity

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $5.76, but opened at $6.07. BigCommerce shares last traded at $6.34, with a volume of 129,272 shares trading hands.

Specifically, Director Ellen F. Siminoff acquired 177,158 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the purchase, the director now owns 253,333 shares in the company, valued at approximately $1,682,131.12. The trade was a 232.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BIGC shares. Barclays cut shares of BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $8.00 to $7.00 in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.80.

BigCommerce Stock Performance

The company has a market cap of $495.18 million, a PE ratio of -18.00 and a beta of 1.13. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock’s 50 day simple moving average is $6.46 and its two-hundred day simple moving average is $6.26.

BigCommerce (NASDAQ:BIGC) last issued its 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 company had revenue of $87.03 million during the quarter, compared to analysts’ expectations of $86.90 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. As a group, research analysts anticipate that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On BigCommerce

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BigCommerce in the 4th quarter valued at $35,000. New York State Common Retirement Fund increased its holdings 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 acquiring an additional 4,400 shares during the last quarter. Virtu Financial LLC bought a new position in shares of BigCommerce in the third quarter valued at approximately $61,000. Headlands Technologies LLC lifted its position in BigCommerce by 260.5% during the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after acquiring an additional 7,181 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in BigCommerce during the fourth quarter valued at about $66,000. 79.21% of the stock is currently owned by institutional investors.

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.