Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Purchases $23,664.00 in Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 11,600 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $2.04 per share, with a total value of $23,664.00. Following the completion of the purchase, the insider now owns 6,616,305 shares of the company’s stock, valued at $13,497,262.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Tuesday, September 10th, Edenbrook Capital, Llc acquired 5,230 shares of Brightcove stock. The shares were bought at an average cost of $2.04 per share, with a total value of $10,669.20.
• On Monday, August 12th, Edenbrook Capital, Llc bought 20,000 shares of Brightcove stock. The stock was purchased at an average cost of $1.98 per share, with a total value of $39,600.00.
• On Friday, August 9th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The shares were acquired at an average price of $2.01 per share, for a total transaction of $60,300.00.

Brightcove Trading Down 1.0 %

NASDAQ:BCOV opened at $2.02 on Friday. The company has a 50 day simple moving average of $2.27 and a two-hundred day simple moving average of $2.09. The company has a market cap of $90.06 million, a PE ratio of -9.18 and a beta of 0.74. Brightcove Inc. has a 12 month low of $1.55 and a 12 month high of $3.81.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $49.25 million during the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same quarter last year, the company posted ($0.07) EPS. Research analysts forecast that Brightcove Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Institutional Trading of Brightcove

Several large investors have recently added to or reduced their stakes in BCOV. Pitcairn Co. purchased a new position in shares of Brightcove during the 1st quarter worth $27,000. Aaron Wealth Advisors LLC bought a new stake in Brightcove during the second quarter valued at about $34,000. Price T Rowe Associates Inc. MD purchased a new stake in Brightcove in the first quarter worth about $29,000. XTX Topco Ltd bought a new position in shares of Brightcove in the second quarter worth about $36,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Brightcove during the 1st quarter valued at about $33,000. 80.12% of the stock is currently owned by institutional investors.

About Brightcove

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.