272 Capital LP Buys 252,946 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

272 Capital LP lifted its stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 40.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 884,750 shares of the company’s stock after purchasing an additional 252,946 shares during the quarter. BigCommerce accounts for about 3.6% of 272 Capital LP’s investment portfolio, making the stock its 6th largest holding. 272 Capital LP’s holdings in BigCommerce were worth $7,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in BigCommerce during the 4th quarter worth about $10,236,000. Cadian Capital Management LP lifted its position in shares of BigCommerce by 13.6% in the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock worth $73,493,000 after purchasing an additional 904,750 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of BigCommerce by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock worth $94,438,000 after purchasing an additional 762,437 shares during the period. Steward Partners Investment Solutions LLC purchased a new position in BigCommerce during the fourth quarter valued at approximately $3,184,000. Finally, Franklin Resources Inc. increased its stake in BigCommerce by 16.4% in the 4th quarter. Franklin Resources Inc. now owns 2,000,211 shares of the company’s stock valued at $19,462,000 after buying an additional 282,380 shares during the period. 79.21% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Trading Down 3.3 %

BigCommerce stock opened at $5.85 on Tuesday. BigCommerce Holdings, Inc. has a one year low of $5.35 and a one year high of $10.29. The company’s fifty day moving average price is $6.41 and its two-hundred day moving average price is $6.96. The company has a market capitalization of $452.06 million, a price-to-earnings ratio of -9.14 and a beta of 0.98. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 4.51.

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

Wall Street Analyst Weigh In

BIGC has been the subject of a number of research reports. Barclays decreased their target price on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of BigCommerce in a research report on Wednesday, August 28th. Finally, Bank of America dropped 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, BigCommerce presently has a consensus rating of “Hold” and a consensus target price of $8.93.

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.