International Assets Investment Management LLC Takes Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

International Assets Investment Management LLC bought a new position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,001 shares of the company’s stock, valued at approximately $3,700,000.

Several other large investors have also recently added to or reduced their stakes in BIGC. Cadian Capital Management LP lifted its position in BigCommerce by 31.0% during the third quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock worth $65,621,000 after buying an additional 1,571,938 shares during the period. Vanguard Group Inc. lifted its position in BigCommerce by 8.4% during the third quarter. Vanguard Group Inc. now owns 8,943,419 shares of the company’s stock worth $88,272,000 after buying an additional 693,728 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in BigCommerce by 94.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 706,676 shares of the company’s stock worth $6,975,000 after buying an additional 343,855 shares during the period. Essex Investment Management Co. LLC purchased a new position in BigCommerce during the third quarter worth about $2,585,000. Finally, CenterBook Partners LP lifted its position in BigCommerce by 112.8% during the third quarter. CenterBook Partners LP now owns 393,835 shares of the company’s stock worth $3,887,000 after buying an additional 208,778 shares during the period. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

BigCommerce Price Performance

BIGC stock opened at $7.53 on Friday. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83. BigCommerce Holdings, Inc. has a 1 year low of $5.62 and a 1 year high of $12.75. The firm has a market cap of $576.80 million, a P/E ratio of -8.76 and a beta of 0.84. The stock has a 50-day simple moving average of $6.68 and a 200-day simple moving average of $8.08.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BIGC. Piper Sandler cut their price objective on BigCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Bank of America restated an “underperform” rating and issued a $7.50 price objective (down from $11.00) on shares of BigCommerce in a report on Monday, March 25th. Truist Financial cut their price objective on BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Barclays cut their price objective on BigCommerce from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of BigCommerce in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.25.

About BigCommerce

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.