Wasatch Advisors LP Sells 92,812 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Wasatch Advisors LP trimmed its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,821,152 shares of the company’s stock after selling 92,812 shares during the period. Wasatch Advisors LP owned approximately 4.99% of BigCommerce worth $26,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of BigCommerce by 719.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,178 shares of the company’s stock valued at $109,000 after purchasing an additional 9,814 shares during the period. AXQ Capital LP acquired a new position in shares of BigCommerce in the 3rd quarter worth approximately $110,000. Versor Investments LP acquired a new position in shares of BigCommerce in the 4th quarter worth approximately $129,000. Circumference Group LLC acquired a new position in shares of BigCommerce in the 4th quarter worth approximately $438,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of BigCommerce in the 1st quarter worth approximately $564,000. 79.21% of the stock is currently owned by institutional investors.

BigCommerce Stock Performance

BIGC stock opened at $7.81 on Wednesday. The stock has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $7.76. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 12.63. BigCommerce Holdings, Inc. has a 1 year low of $5.62 and a 1 year high of $12.75.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $80.36 million during the quarter, compared to the consensus estimate of $77.46 million. Analysts expect that BigCommerce Holdings, Inc. will post -0.28 EPS for the current year.

Analyst Ratings Changes

BIGC has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of BigCommerce in a report on Friday, May 10th. Bank of America reissued 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. Barclays increased their price target on BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Finally, Morgan Stanley lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, BigCommerce currently has an average rating of “Hold” and an average target price of $9.63.

Insider Activity at BigCommerce

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

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.