Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Buys $108,526.47 in Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc purchased 16,369 shares of Brightcove stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average price of $6.63 per share, for a total transaction of $108,526.47. Following the transaction, the insider now directly owns 5,015,043 shares in the company, valued at approximately $33,249,735.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

  • On Tuesday, September 13th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The stock was bought at an average price of $6.75 per share, for a total transaction of $202,500.00.
  • On Wednesday, September 7th, Edenbrook Capital, Llc bought 25,000 shares of Brightcove stock. The stock was bought at an average price of $6.62 per share, for a total transaction of $165,500.00.
  • On Monday, August 29th, Edenbrook Capital, Llc bought 3,600 shares of Brightcove stock. The stock was bought at an average price of $6.45 per share, for a total transaction of $23,220.00.
  • On Thursday, August 25th, Edenbrook Capital, Llc bought 15,000 shares of Brightcove stock. The stock was bought at an average price of $6.59 per share, for a total transaction of $98,850.00.
  • On Tuesday, August 23rd, Edenbrook Capital, Llc bought 7,595 shares of Brightcove stock. The stock was bought at an average price of $6.55 per share, for a total transaction of $49,747.25.
  • On Thursday, August 18th, Edenbrook Capital, Llc bought 7,849 shares of Brightcove stock. The stock was bought at an average price of $6.68 per share, for a total transaction of $52,431.32.
  • On Monday, August 15th, Edenbrook Capital, Llc bought 5,853 shares of Brightcove stock. The stock was bought at an average price of $6.77 per share, for a total transaction of $39,624.81.
  • On Friday, August 12th, Edenbrook Capital, Llc bought 11,029 shares of Brightcove stock. The stock was bought at an average price of $6.77 per share, for a total transaction of $74,666.33.
  • On Monday, August 1st, Edenbrook Capital, Llc purchased 500 shares of Brightcove stock. The shares were acquired at an average cost of $5.85 per share, with a total value of $2,925.00.
  • On Friday, July 29th, Edenbrook Capital, Llc purchased 15,000 shares of Brightcove stock. The shares were acquired at an average cost of $5.98 per share, with a total value of $89,700.00.

Brightcove Stock Performance

BCOV stock opened at $6.61 on Friday. The company has a fifty day moving average price of $6.48 and a 200-day moving average price of $6.88. The company has a market capitalization of $276.96 million, a P/E ratio of -110.17 and a beta of 0.70. Brightcove Inc. has a 52-week low of $5.84 and a 52-week high of $12.46.

Brightcove (NASDAQ:BCOVGet Rating) last announced its earnings results on Tuesday, August 2nd. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Brightcove had a negative net margin of 1.20% and a positive return on equity of 2.63%. During the same quarter in the prior year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that Brightcove Inc. will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new position in Brightcove during the first quarter worth $52,000. Zebra Capital Management LLC bought a new stake in Brightcove in the first quarter valued at $81,000. Jane Street Group LLC bought a new stake in Brightcove in the first quarter valued at $89,000. Lazard Asset Management LLC bought a new stake in Brightcove in the second quarter valued at $100,000. Finally, American Trust bought a new stake in Brightcove in the fourth quarter valued at $128,000. Institutional investors own 86.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities started coverage on shares of Brightcove in a research note on Thursday, September 8th. They set a “neutral” rating and a $8.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.33.

About Brightcove

(Get Rating)

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

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Insider Buying and Selling by Quarter for Brightcove (NASDAQ:BCOV)

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