Insider Selling: BigCommerce Holdings, Inc. (NASDAQ:BIGC) Director Sells 132,563 Shares of Stock

BigCommerce Holdings, Inc. (NASDAQ:BIGC) Director Jeffrey Gordon Richards sold 132,563 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $8.75, for a total value of $1,159,926.25. Following the completion of the sale, the director now directly owns 15,480 shares in the company, valued at $135,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BigCommerce Stock Performance

Shares of NASDAQ:BIGC opened at $9.36 on Tuesday. The company has a debt-to-equity ratio of 17.08, a current ratio of 5.09 and a quick ratio of 5.09. The business’s 50 day moving average price is $9.55 and its 200-day moving average price is $9.58. The firm has a market capitalization of $712.20 million, a PE ratio of -7.37 and a beta of 0.82. BigCommerce Holdings, Inc. has a 1 year low of $6.81 and a 1 year high of $13.39.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. BigCommerce had a negative return on equity of 187.16% and a negative net margin of 31.74%. The firm had revenue of $78.05 million for the quarter, compared to the consensus estimate of $78.12 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that BigCommerce Holdings, Inc. will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors have recently added to or reduced their stakes in BIGC. Tower Research Capital LLC TRC lifted its position in BigCommerce by 93.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,711 shares of the company’s stock worth $37,000 after buying an additional 1,792 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in BigCommerce during the first quarter worth approximately $56,000. Lazard Asset Management LLC purchased a new position in BigCommerce during the third quarter worth approximately $74,000. Advisors Asset Management Inc. raised its position in BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after purchasing an additional 1,673 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in BigCommerce in the second quarter valued at $90,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Analyst Ratings Changes

BIGC has been the topic of several research analyst reports. Truist Financial dropped their price objective on BigCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Thursday, November 9th. The Goldman Sachs Group dropped their price objective on BigCommerce from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Friday, November 10th. Piper Sandler reissued a “neutral” rating and issued a $11.00 price objective on shares of BigCommerce in a report on Thursday, November 16th. Barclays raised their price objective on BigCommerce from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, UBS Group initiated coverage on BigCommerce in a report on Friday, September 22nd. They issued a “neutral” rating and a $12.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.82.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.