Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Connor Clark & Lunn Investment Management Ltd. lifted its position in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 79.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 696,129 shares of the company’s stock after purchasing an additional 308,384 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.89% of BigCommerce worth $4,260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of BigCommerce by 1.8% in the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock valued at $10,859,000 after purchasing an additional 35,016 shares during the period. Clearline Capital LP grew its holdings in shares of BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after purchasing an additional 661,688 shares during the period. Geode Capital Management LLC grew its holdings in shares of BigCommerce by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock valued at $9,363,000 after purchasing an additional 21,105 shares during the period. State Street Corp grew its holdings in shares of BigCommerce by 1.1% in the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after purchasing an additional 16,561 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of BigCommerce by 3.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company’s stock valued at $7,730,000 after purchasing an additional 42,920 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

Wall Street Analysts Forecast Growth

BIGC has been the subject of a number of analyst reports. Barclays lowered shares of BigCommerce from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $7.00 in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, BigCommerce presently has an average rating of “Hold” and a consensus price target of $7.80.

Insider Transactions at BigCommerce

In other BigCommerce news, Director Ellen F. Siminoff purchased 177,158 shares of BigCommerce stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the completion of the transaction, the director now owns 253,333 shares of the company’s stock, valued at $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.06% of the company’s stock.

BigCommerce Trading Down 1.6 %

NASDAQ BIGC opened at $5.97 on Monday. The firm’s 50-day moving average is $6.45 and its two-hundred day moving average is $6.27. BigCommerce Holdings, Inc. has a 12 month low of $5.13 and a 12 month high of $8.60. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The stock has a market capitalization of $469.24 million, a P/E ratio of -17.06 and a beta of 1.13.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $87.03 million for the quarter, compared to analyst estimates of $86.90 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. On average, sell-side analysts anticipate that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

BigCommerce Company Profile

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.