Artisan Partners Limited Partnership increased its holdings in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 48.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,837,495 shares of the company’s stock after purchasing an additional 1,249,221 shares during the period. Artisan Partners Limited Partnership owned approximately 5.46% of BigCommerce worth $249,130,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers raised its holdings in BigCommerce by 315.3% in the 1st quarter. Rhumbline Advisers now owns 39,769 shares of the company’s stock valued at $2,299,000 after acquiring an additional 30,192 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of BigCommerce in the 1st quarter worth approximately $869,000. Penserra Capital Management LLC raised its holdings in shares of BigCommerce by 5.9% in the 1st quarter. Penserra Capital Management LLC now owns 363,847 shares of the company’s stock worth $21,030,000 after buying an additional 20,430 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of BigCommerce by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 701,700 shares of the company’s stock worth $45,555,000 after buying an additional 69,457 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of BigCommerce in the 2nd quarter worth approximately $311,000. 66.59% of the stock is owned by institutional investors and hedge funds.
In other news, CTO Brian Singh Dhatt sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $67.95, for a total value of $679,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Joseph Murray sold 14,225 shares of the firm’s stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $65.04, for a total value of $925,194.00. The disclosure for this sale can be found here. Insiders sold a total of 658,926 shares of company stock worth $43,982,262 in the last three months. Company insiders own 31.70% of the company’s stock.
BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, August 5th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. BigCommerce had a negative return on equity of 22.20% and a negative net margin of 25.66%. The business had revenue of $49.01 million for the quarter, compared to the consensus estimate of $46.76 million. Equities research analysts predict that BigCommerce Holdings, Inc. will post -0.74 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Barclays dropped their target price on BigCommerce from $72.00 to $66.00 and set an “equal weight” rating for the company in a report on Friday, September 17th. Guggenheim restated a “hold” rating on shares of BigCommerce in a research report on Friday, August 27th. Needham & Company LLC initiated coverage on BigCommerce in a research report on Monday, August 23rd. They set a “buy” rating and a $85.00 price target on the stock. Jefferies Financial Group decreased their price target on BigCommerce from $75.00 to $64.00 in a research report on Friday, May 28th. Finally, Zacks Investment Research lowered BigCommerce from a “hold” rating to a “sell” rating in a research report on Thursday, August 12th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.73.
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States. The company's platform provides various services for launching and scaling ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.
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