The Manufacturers Life Insurance Company Increases Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

The Manufacturers Life Insurance Company boosted its holdings in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,167 shares of the company’s stock after purchasing an additional 2,056 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BigCommerce were worth $219,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of BigCommerce by 5.9% in the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock valued at $70,817,000 after buying an additional 572,396 shares in the last quarter. Clearbridge Investments LLC grew its stake in BigCommerce by 2.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,327,083 shares of the company’s stock valued at $9,144,000 after acquiring an additional 30,683 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in BigCommerce by 10.6% in 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 acquiring an additional 102,100 shares in the last quarter. 272 Capital LP raised its position in BigCommerce by 40.0% during the second quarter. 272 Capital LP now owns 884,750 shares of the company’s stock worth $7,131,000 after acquiring an additional 252,946 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in BigCommerce by 42.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company’s stock worth $4,602,000 after acquiring an additional 198,638 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

BigCommerce Stock Up 1.4 %

BIGC stock opened at $5.82 on Friday. The company has a market cap of $449.74 million, a price-to-earnings ratio of -9.09 and a beta of 0.98. The firm has a 50-day moving average of $5.81 and a two-hundred day moving average of $6.77. BigCommerce Holdings, Inc. has a 12 month low of $5.35 and a 12 month high of $10.29. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $81.83 million during the quarter, compared to analysts’ expectations of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, analysts forecast that BigCommerce Holdings, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays dropped their target price on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus lowered their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of BigCommerce in a research note on Thursday, October 3rd. Finally, Bank of America decreased their target price on BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.81.

BigCommerce 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.