Clearbridge Investments LLC Trims Stock Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Clearbridge Investments LLC cut its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,517,032 shares of the company’s stock after selling 14,462 shares during the quarter. Clearbridge Investments LLC owned approximately 1.94% of BigCommerce worth $9,284,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BIGC. Franklin Resources Inc. grew its holdings in BigCommerce by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock valued at $10,859,000 after buying an additional 35,016 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BigCommerce by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock valued at $9,363,000 after acquiring an additional 21,105 shares during the last quarter. State Street Corp boosted its stake in shares of BigCommerce by 1.1% during the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after acquiring an additional 16,561 shares during the last quarter. Bank of New York Mellon Corp increased its position in BigCommerce by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company’s stock worth $7,730,000 after purchasing an additional 42,920 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in BigCommerce by 16.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,079,973 shares of the company’s stock valued at $6,318,000 after purchasing an additional 150,260 shares during the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BigCommerce

In other BigCommerce news, Director Ellen F. Siminoff purchased 177,158 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the acquisition, the director now owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. This represents a 232.57 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.06% of the company’s stock.

BigCommerce Price Performance

BIGC opened at $5.91 on Thursday. BigCommerce Holdings, Inc. has a 1 year low of $5.13 and a 1 year high of $8.60. The company’s 50 day simple moving average is $6.38 and its 200 day simple moving average is $6.28. The stock has a market capitalization of $464.53 million, a PE ratio of -16.89 and a beta of 1.13. 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 data 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 company had revenue of $87.03 million for the quarter, compared to analysts’ expectations 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, sell-side analysts expect that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

BIGC has been the subject of a number of recent research reports. Barclays downgraded shares of BigCommerce from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $8.00 to $7.00 in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.