Equity Management

Great West Life Assurance Co. Can Makes New $4.22 Million Investment in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

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Feb 5, 2023 • 4 min read

Great West Life Assurance Co. Can bought a new position in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC - Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 285,638 shares of the company's stock, valued at approximately $4,224,000. Great West Life Assurance Co. Can owned 0.39% of BigCommerce as of its most recent filing with the Securities and Exchange Commission.

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Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in BigCommerce by 81.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company's stock worth $81,000 after acquiring an additional 1,673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BigCommerce by 37.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,704 shares of the company's stock valued at $109,000 after buying an additional 1,811 shares during the period. Handelsbanken Fonder AB acquired a new position in shares of BigCommerce in the 2nd quarter valued at $167,000. Nisa Investment Advisors LLC grew its holdings in shares of BigCommerce by 4,250.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,180 shares of the company's stock valued at $197,000 after buying an additional 11,900 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of BigCommerce by 87.0% in the 1st quarter. Raymond James & Associates now owns 10,848 shares of the company's stock valued at $238,000 after buying an additional 5,048 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Activity

In other news, insider Robert Kaloustian sold 3,672 shares of the company's stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $10.56, for a total value of $38,776.32. Following the sale, the insider now directly owns 47,001 shares of the company's stock, valued at approximately $496,330.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BIGC shares. KeyCorp decreased their price target on shares of BigCommerce from $25.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, November 7th. Needham & Company LLC assumed coverage on shares of BigCommerce in a report on Friday, December 16th. They issued a "buy" rating and a $20.00 price target for the company. Truist Financial cut shares of BigCommerce from a "buy" rating to a "hold" rating and set a $13.00 price objective on the stock. in a research report on Friday, November 4th. Morgan Stanley cut their price objective on shares of BigCommerce from $18.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, December 19th. Finally, The Goldman Sachs Group cut their price objective on shares of BigCommerce from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Monday, November 7th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $19.77.

BigCommerce Stock Up 2.2 %

Shares of BIGC stock opened at $10.84 on Monday. The company has a debt-to-equity ratio of 5.18, a quick ratio of 5.66 and a current ratio of 5.66. The firm's 50-day moving average is $9.00 and its 200-day moving average is $13.42. The stock has a market cap of $798.70 million, a price-to-earnings ratio of -5.59 and a beta of 0.32. BigCommerce Holdings, Inc. has a 52-week low of $7.74 and a 52-week high of $34.00.

BigCommerce (NASDAQ:BIGC - Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.03. The company had revenue of $72.39 million for the quarter, compared to analysts' expectations of $69.68 million. BigCommerce had a negative net margin of 51.99% and a negative return on equity of 89.29%. Sell-side analysts predict that BigCommerce Holdings, Inc. will post -1.24 EPS for the current year.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.