Short Interest in BigCommerce Holdings, Inc. (NASDAQ:BIGC) Grows By 7.9%

BigCommerce Holdings, Inc. (NASDAQ:BIGCGet Rating) saw a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 3,950,000 shares, an increase of 7.9% from the December 15th total of 3,660,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 6.5% of the shares of the company are sold short.

Insider Transactions at BigCommerce

In other news, insider Robert Kaloustian sold 3,672 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $10.56, for a total value of $38,776.32. Following the transaction, the insider now directly owns 47,001 shares in the company, valued at approximately $496,330.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 31.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position in shares of BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after acquiring an additional 1,673 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of BigCommerce by 351.3% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,831 shares of the company’s stock worth $86,000 after acquiring an additional 4,539 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of BigCommerce by 29.6% in the third quarter. Essex Investment Management Co. LLC now owns 6,069 shares of the company’s stock worth $90,000 after acquiring an additional 1,385 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BigCommerce by 37.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,704 shares of the company’s stock worth $109,000 after acquiring an additional 1,811 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of BigCommerce in the third quarter worth approximately $104,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Stock Performance

Shares of BIGC opened at $10.84 on Monday. The firm’s 50 day moving average is $9.00 and its 200-day moving average is $13.42. The stock has a market capitalization of $798.70 million, a P/E ratio of -5.59 and a beta of 0.32. The company has a debt-to-equity ratio of 5.18, a current ratio of 5.66 and a quick ratio of 5.66. BigCommerce has a 12-month low of $7.74 and a 12-month high of $34.00.

BigCommerce (NASDAQ:BIGCGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $69.68 million. BigCommerce had a negative net margin of 51.99% and a negative return on equity of 89.29%. Equities research analysts anticipate that BigCommerce will post -1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BIGC shares. Piper Sandler cut their price objective on shares of BigCommerce from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, December 16th. Morgan Stanley cut their price objective on shares of BigCommerce from $18.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, December 19th. Jefferies Financial Group cut their price objective on shares of BigCommerce from $11.00 to $9.50 and set a “hold” rating on the stock in a research report on Monday, December 19th. The Goldman Sachs Group dropped their price target on shares of BigCommerce from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Finally, Truist Financial downgraded shares of BigCommerce from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a research report on Friday, November 4th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, BigCommerce presently has a consensus rating of “Hold” and an average target price of $19.77.

About BigCommerce

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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.

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