Insider Buying: Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Buys $99,150.00 in Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was purchased at an average cost of $6.61 per share, with a total value of $99,150.00. Following the acquisition, the insider now directly owns 5,051,543 shares in the company, valued at $33,390,699.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Thursday, September 15th, Edenbrook Capital, Llc purchased 16,369 shares of Brightcove stock. The stock was purchased at an average cost of $6.63 per share, with a total value of $108,526.47.
  • On Tuesday, September 13th, Edenbrook Capital, Llc purchased 30,000 shares of Brightcove stock. The stock was purchased at an average cost of $6.75 per share, with a total value of $202,500.00.
  • On Wednesday, September 7th, Edenbrook Capital, Llc purchased 25,000 shares of Brightcove stock. The stock was purchased at an average cost of $6.62 per share, with a total value of $165,500.00.
  • On Monday, August 29th, Edenbrook Capital, Llc purchased 3,600 shares of Brightcove stock. The stock was purchased at an average cost of $6.45 per share, with a total value 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 cost of $6.59 per share, with a total value 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 cost of $6.55 per share, with a total value 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 cost of $6.68 per share, with a total value 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 cost of $6.77 per share, with a total value 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 cost of $6.77 per share, with a total value of $74,666.33.
  • On Monday, August 1st, Edenbrook Capital, Llc bought 500 shares of Brightcove stock. The stock was bought at an average cost of $5.85 per share, with a total value of $2,925.00.

Brightcove Price Performance

Shares of NASDAQ:BCOV opened at $6.50 on Friday. The company’s 50-day moving average price is $6.52 and its two-hundred day moving average price is $6.87. Brightcove Inc. has a one year low of $5.84 and a one year high of $12.46. The stock has a market capitalization of $272.34 million, a PE ratio of -108.33 and a beta of 0.70.

Brightcove (NASDAQ:BCOVGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate 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 previous year, the firm posted $0.04 EPS. On average, analysts anticipate that Brightcove Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BCOV. Trigran Investments Inc. grew its position in shares of Brightcove by 3.2% during the 2nd quarter. Trigran Investments Inc. now owns 6,304,155 shares of the software maker’s stock worth $39,842,000 after purchasing an additional 198,097 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Brightcove by 10.4% during the second quarter. Federated Hermes Inc. now owns 2,435,901 shares of the software maker’s stock valued at $15,395,000 after acquiring an additional 230,456 shares during the last quarter. Renaissance Technologies LLC raised its stake in Brightcove by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,307,051 shares of the software maker’s stock worth $8,261,000 after buying an additional 29,295 shares during the last quarter. State Street Corp raised its stake in Brightcove by 2.0% during the first quarter. State Street Corp now owns 786,341 shares of the software maker’s stock worth $6,133,000 after buying an additional 15,700 shares during the last quarter. Finally, Lynrock Lake LP bought a new position in Brightcove during the fourth quarter worth $7,947,000. 86.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Rosenblatt Securities started coverage on shares of Brightcove in a research report on Thursday, September 8th. They set a “neutral” rating and a $8.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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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