Wasatch Advisors LP Cuts Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Wasatch Advisors LP trimmed its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 35.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,229,881 shares of the company’s stock after selling 1,199,340 shares during the period. Wasatch Advisors LP owned 2.87% of BigCommerce worth $13,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BIGC. Vanguard Group Inc. grew its stake in BigCommerce by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock valued at $70,817,000 after acquiring an additional 572,396 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in BigCommerce by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after acquiring an additional 3,188 shares during the last quarter. Virtu Financial LLC acquired a new stake in BigCommerce in the 1st quarter valued at about $104,000. Catalytic Wealth RIA LLC acquired a new stake in BigCommerce in the 2nd quarter valued at about $188,000. Finally, Rhumbline Advisers grew its stake in BigCommerce by 8.4% in the 2nd quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock valued at $819,000 after acquiring an additional 7,849 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

BigCommerce Price Performance

BigCommerce stock opened at $7.37 on Friday. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce Holdings, Inc. has a 1 year low of $5.13 and a 1 year high of $10.19. The firm has a 50 day moving average price of $5.96 and a 200 day moving average price of $6.72. The company has a market cap of $577.66 million, a price-to-earnings ratio of -20.47 and a beta of 0.99.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BIGC. Stifel Nicolaus lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research note on Thursday, October 3rd. Bank of America decreased their price target on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays decreased their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.81.

About BigCommerce

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.