The Manufacturers Life Insurance Company Purchases 2,056 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

The Manufacturers Life Insurance Company boosted its position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,167 shares of the company’s stock after acquiring an additional 2,056 shares during the period. The Manufacturers Life Insurance Company’s holdings in BigCommerce were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BIGC. Vanguard Group Inc. grew its stake in shares of BigCommerce by 5.9% during the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after acquiring an additional 572,396 shares during the last quarter. Clearbridge Investments LLC grew its position in BigCommerce by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 1,327,083 shares of the company’s stock worth $9,144,000 after purchasing an additional 30,683 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in BigCommerce by 10.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,061,800 shares of the company’s stock valued at $7,316,000 after purchasing an additional 102,100 shares in the last quarter. 272 Capital LP raised its holdings in shares of BigCommerce by 40.0% in the second quarter. 272 Capital LP now owns 884,750 shares of the company’s stock worth $7,131,000 after buying an additional 252,946 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of BigCommerce by 42.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company’s stock worth $4,602,000 after buying an additional 198,638 shares during the period. 79.21% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Stock Performance

NASDAQ BIGC opened at $5.82 on Friday. The firm has a market capitalization of $449.74 million, a P/E ratio of -9.09 and a beta of 0.98. The stock has a 50-day simple moving average of $5.81 and a two-hundred day simple moving average of $6.77. The company has a debt-to-equity ratio of 13.04, a quick ratio of 4.51 and a current ratio of 4.51. BigCommerce Holdings, Inc. has a fifty-two week low of $5.35 and a fifty-two week high of $10.29.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The company had revenue of $81.83 million during the quarter, compared to analysts’ expectations of $81.13 million. During the same period last year, the business earned ($0.17) earnings per share. BigCommerce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that BigCommerce Holdings, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BIGC. Stifel Nicolaus cut their target price on BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Barclays cut their price objective on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Thursday, October 3rd. Finally, Bank of America dropped their target price on BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, BigCommerce presently has a consensus rating of “Hold” and an average target price of $8.81.

BigCommerce 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.