Jane Street Group LLC lessened its stake in shares of Brightcove Inc. (NASDAQ:BCOV – Free Report) by 17.9% during the third quarter, Holdings Channel.com reports. The fund owned 52,084 shares of the software maker’s stock after selling 11,387 shares during the period. Jane Street Group LLC’s holdings in Brightcove were worth $113,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC boosted its stake in shares of Brightcove by 81.4% during the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after purchasing an additional 269,302 shares in the last quarter. Edenbrook Capital LLC grew its position in Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after purchasing an additional 120,121 shares during the period. P.A.W. Capital Corp bought a new stake in shares of Brightcove during the third quarter worth about $540,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Brightcove in the second quarter worth approximately $142,000. Finally, Nantahala Capital Management LLC bought a new position in Brightcove during the 2nd quarter valued at $3,114,000. Institutional investors own 80.12% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on BCOV shares. Lake Street Capital cut shares of Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities reiterated a “neutral” rating and set a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th. Finally, StockNews.com began coverage on shares of Brightcove in a research report on Saturday. They issued a “buy” rating for the company.
Brightcove Stock Performance
Shares of NASDAQ:BCOV opened at $4.41 on Wednesday. The firm has a market cap of $199.05 million, a price-to-earnings ratio of -21.00 and a beta of 1.01. The business has a 50-day simple moving average of $3.95 and a two-hundred day simple moving average of $2.84. Brightcove Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $4.44.
About Brightcove
Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.
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