Brightcove (NASDAQ:BCOV) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Brightcove Inc. (NASDAQ:BCOV) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.19 and traded as high as $3.05. Brightcove shares last traded at $3.02, with a volume of 543,836 shares trading hands.

Analysts Set New Price Targets

BCOV has been the subject of several recent research reports. StockNews.com upgraded shares of Brightcove from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and boosted their target price for the company from $2.75 to $3.50 in a research note on Tuesday, November 5th.

Brightcove Stock Up 1.0 %

The firm’s 50 day simple moving average is $2.23 and its two-hundred day simple moving average is $2.20. The stock has a market cap of $135.66 million, a P/E ratio of -14.38 and a beta of 0.74.

Insider Transactions at Brightcove

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders bought 48,988 shares of company stock worth $100,789. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its position in shares of Brightcove by 11.0% during the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock worth $145,000 after acquiring an additional 6,095 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock worth $165,000 after acquiring an additional 9,353 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after purchasing an additional 10,120 shares during the period. Pitcairn Co. acquired a new position in Brightcove during the 1st quarter valued at about $27,000. Finally, Aaron Wealth Advisors LLC acquired a new position in Brightcove during the 2nd quarter valued at about $34,000. Institutional investors own 80.12% of the company’s stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.