GGV Capital LLC Trims Stock Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

GGV Capital LLC reduced its stake in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 65.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,721 shares of the company’s stock after selling 287,816 shares during the period. BigCommerce accounts for approximately 0.8% of GGV Capital LLC’s investment portfolio, making the stock its 8th biggest position. GGV Capital LLC owned approximately 0.19% of BigCommerce worth $876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 572,396 shares during the last quarter. Clearbridge Investments LLC boosted its position in BigCommerce by 8.0% during the second quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company’s stock valued at $11,551,000 after acquiring an additional 106,080 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in BigCommerce by 10.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,061,800 shares of the company’s stock worth $7,316,000 after acquiring an additional 102,100 shares during the period. Clearline Capital LP raised its position in shares of BigCommerce by 27.3% in the 2nd quarter. Clearline Capital LP now owns 949,931 shares of the company’s stock worth $7,656,000 after acquiring an additional 203,785 shares in the last quarter. Finally, 272 Capital LP raised its position in shares of BigCommerce by 40.0% in the 2nd quarter. 272 Capital LP now owns 884,750 shares of the company’s stock worth $7,131,000 after acquiring an additional 252,946 shares in the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

BigCommerce Stock Performance

BIGC stock opened at $5.97 on Tuesday. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a market cap of $467.93 million, a PE ratio of -16.58 and a beta of 0.99. The business has a 50 day moving average of $5.77 and a 200-day moving average of $6.73. BigCommerce Holdings, Inc. has a 12-month low of $5.13 and a 12-month high of $10.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BIGC shares. Stifel Nicolaus cut their target price on BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Barclays dropped their price objective on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Bank of America decreased their target price on BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of BigCommerce in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.81.

BigCommerce 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.