Canada Pension Plan Investment Board Purchases New Stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Canada Pension Plan Investment Board purchased a new stake in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) during the 2nd quarter, Holdings Channel reports. The fund purchased 4,300 shares of the company’s stock, valued at approximately $35,000.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in BigCommerce during the first quarter valued at $80,000. Virtu Financial LLC acquired a new position in BigCommerce during the first quarter valued at $104,000. Bayesian Capital Management LP acquired a new position in BigCommerce during the first quarter valued at $144,000. Catalytic Wealth RIA LLC acquired a new position in BigCommerce during the second quarter valued at $188,000. Finally, Price T Rowe Associates Inc. MD grew its stake in BigCommerce by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after purchasing an additional 3,188 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

BigCommerce Price Performance

Shares of NASDAQ:BIGC opened at $6.08 on Monday. The business has a 50 day moving average price of $6.23 and a 200 day moving average price of $6.92. BigCommerce Holdings, Inc. has a twelve month low of $5.35 and a twelve month high of $10.29. The company has a market cap of $469.83 million, a price-to-earnings ratio of -9.50 and a beta of 0.98. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 13.04.

BigCommerce (NASDAQ:BIGC) last announced its earnings results on Thursday, August 1st. The company reported $0.05 earnings per share 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 the consensus estimate of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) EPS. Research analysts predict that BigCommerce Holdings, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIGC. Bank of America lowered their target price on BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of BigCommerce in a research note on Wednesday, August 28th. Finally, Barclays lowered their target price on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, BigCommerce has a consensus rating of “Hold” and a consensus price target of $8.93.

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.