Stock Traders Buy Large Volume of Call Options on BigCommerce (NASDAQ:BIGC)

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at BigCommerce

In related news, Director Ellen F. Siminoff acquired 177,158 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $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 is available at this hyperlink. 9.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in BigCommerce by 154.9% in the third quarter. Barclays PLC now owns 116,667 shares of the company’s stock valued at $682,000 after purchasing an additional 70,902 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of BigCommerce by 88.2% in the third quarter. Jane Street Group LLC now owns 206,265 shares of the company’s stock worth $1,207,000 after buying an additional 96,667 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of BigCommerce in the third quarter worth about $170,000. New York State Common Retirement Fund grew its holdings in BigCommerce by 105.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after acquiring an additional 4,400 shares during the period. Finally, State Street Corp raised its position in BigCommerce by 1.1% during the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after acquiring an additional 16,561 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

BigCommerce Price Performance

BIGC opened at $6.09 on Tuesday. The firm has a market capitalization of $478.67 million, a PE ratio of -17.40 and a beta of 1.13. 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 business’s 50-day moving average is $6.42 and its two-hundred day moving average is $6.27. BigCommerce has a 1 year low of $5.13 and a 1 year high of $8.60.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 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 analysts’ expectations of $86.90 million. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. Research analysts anticipate that BigCommerce will post -0.16 earnings per share for the current fiscal 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.