Brightcove (NASDAQ:BCOV) Earns “Neutral” Rating from Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Brightcove (NASDAQ:BCOV) in a research note published on Monday, MarketBeat.com reports. They currently have a $4.45 target price on the software maker’s stock, down from their previous target price of $5.00.

BCOV has been the topic of several other research reports. StockNews.com downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Lake Street Capital raised shares of Brightcove from a “hold” rating to a “buy” rating and upped their price target for the company from $2.75 to $3.50 in a report on Tuesday, November 5th.

Brightcove Trading Down 0.5 %

BCOV stock opened at $4.29 on Monday. Brightcove has a 52 week low of $1.55 and a 52 week high of $4.33. The company has a market cap of $193.65 million, a P/E ratio of -20.43 and a beta of 0.74. The company’s 50-day moving average price is $2.52 and its 200 day moving average price is $2.32.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders bought 48,988 shares of company stock worth $100,789. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD bought a new position in shares of Brightcove in the 1st quarter worth about $29,000. Aaron Wealth Advisors LLC acquired a new position in shares of Brightcove in the 2nd quarter valued at $34,000. XTX Topco Ltd purchased a new position in shares of Brightcove in the second quarter worth approximately $36,000. State Board of Administration of Florida Retirement System raised its stake in Brightcove by 89.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after purchasing an additional 10,120 shares during the period. Finally, Wedbush Securities Inc. acquired a new stake in shares of Brightcove in the second quarter worth $47,000. 80.12% of the stock is currently owned by institutional investors.

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.