Geode Capital Management LLC Grows Position in Brightcove Inc. (NASDAQ:BCOV)

Geode Capital Management LLC grew its stake in Brightcove Inc. (NASDAQ:BCOV) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,275 shares of the software maker’s stock after acquiring an additional 37,584 shares during the quarter. Geode Capital Management LLC’s holdings in Brightcove were worth $1,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. XTX Topco Ltd acquired a new position in Brightcove in the 2nd quarter valued at about $36,000. Wedbush Securities Inc. purchased a new stake in shares of Brightcove during the second quarter worth about $47,000. Cubist Systematic Strategies LLC acquired a new position in shares of Brightcove in the second quarter valued at approximately $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Brightcove during the second quarter valued at approximately $142,000. Finally, AQR Capital Management LLC purchased a new position in shares of Brightcove during the second quarter valued at approximately $143,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BCOV shares. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. StockNews.com began coverage on Brightcove in a research note on Friday, January 3rd. They issued a “buy” rating for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 price target (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Stock Performance

Shares of BCOV stock opened at $4.40 on Friday. The firm has a market capitalization of $198.60 million, a price-to-earnings ratio of -20.95 and a beta of 1.01. Brightcove Inc. has a one year low of $1.55 and a one year high of $4.40. The company has a 50 day moving average price of $3.85 and a 200 day moving average price of $2.80.

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.