BigCommerce Target of Unusually High Options Trading (NASDAQ:BIGC)

BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw some unusual options trading on Monday. Stock traders acquired 7,516 call options on the stock. This is an increase of approximately 1,620% compared to the typical daily volume of 437 call options.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research note on Wednesday, March 12th. Barclays lowered BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $8.00 to $7.00 in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BigCommerce presently has a consensus rating of “Hold” and an average price target of $7.80.

Insider Buying and Selling at BigCommerce

In other BigCommerce news, Director Ellen F. Siminoff bought 177,158 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the purchase, the director now directly owns 253,333 shares in the company, valued at $1,682,131.12. The trade was a 232.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 9.06% of the company’s stock.

Institutional Investors Weigh In On BigCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BigCommerce by 196.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,745 shares of the company’s stock worth $2,268,000 after buying an additional 256,783 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of BigCommerce during the third quarter worth approximately $112,000. Algert Global LLC lifted its holdings in shares of BigCommerce by 67.7% during the third quarter. Algert Global LLC now owns 449,072 shares of the company’s stock worth $2,627,000 after buying an additional 181,222 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of BigCommerce during the third quarter worth approximately $170,000. Finally, Paloma Partners Management Co acquired a new position in shares of BigCommerce during the third quarter worth approximately $106,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Stock Performance

BIGC traded up $0.11 on Monday, hitting $6.10. The company had a trading volume of 157,166 shares, compared to its average volume of 840,822. The company’s fifty day moving average price is $6.41 and its 200 day moving average price is $6.27. BigCommerce has a 1-year low of $5.13 and a 1-year 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 cap of $479.07 million, a price-to-earnings ratio of -17.41 and a beta of 1.13.

BigCommerce (NASDAQ:BIGC) last posted its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The company had revenue of $87.03 million during the quarter, compared to analyst estimates of $86.90 million. Equities analysts predict that BigCommerce will post -0.16 earnings per share for the current fiscal year.

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.