BigCommerce (NASDAQ:BIGC) Sees Strong Trading Volume

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) saw an uptick in trading volume on Wednesday . 1,162,264 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 667,832 shares.The stock last traded at $6.76 and had previously closed at $6.94.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler dropped their target price on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Truist Financial cut their price target on BigCommerce from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Bank of America reiterated an “underperform” rating and issued a $7.50 target price (down from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. Barclays lowered their price objective on BigCommerce from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, Morgan Stanley lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.25.

BigCommerce Trading Down 4.6 %

The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83. The stock has a market cap of $507.09 million, a PE ratio of -7.63 and a beta of 0.84. The company’s fifty day moving average is $6.72 and its 200-day moving average is $8.11.

Institutional Trading of BigCommerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of BigCommerce by 8.4% during the third quarter. Vanguard Group Inc. now owns 8,943,419 shares of the company’s stock worth $88,272,000 after purchasing an additional 693,728 shares in the last quarter. CenterBook Partners LP raised its stake in BigCommerce by 112.8% during the 3rd quarter. CenterBook Partners LP now owns 393,835 shares of the company’s stock worth $3,887,000 after acquiring an additional 208,778 shares in the last quarter. Corton Capital Inc. boosted its position in shares of BigCommerce by 16.2% in the 3rd quarter. Corton Capital Inc. now owns 29,487 shares of the company’s stock valued at $291,000 after purchasing an additional 4,101 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of BigCommerce by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 508,357 shares of the company’s stock valued at $5,017,000 after acquiring an additional 30,722 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of BigCommerce by 3.9% during the third quarter. Deutsche Bank AG now owns 115,968 shares of the company’s stock worth $1,145,000 after buying an additional 4,380 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

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.