Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Connor Clark & Lunn Investment Management Ltd. raised its stake in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 79.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 696,129 shares of the company’s stock after acquiring an additional 308,384 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BigCommerce were worth $4,260,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BIGC. Clearline Capital LP increased its stake in BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after purchasing an additional 661,688 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in BigCommerce in the fourth quarter valued at approximately $2,296,000. Algert Global LLC increased its stake in BigCommerce by 67.7% in the third quarter. Algert Global LLC now owns 449,072 shares of the company’s stock valued at $2,627,000 after purchasing an additional 181,222 shares during the last quarter. 272 Capital LP increased its stake in BigCommerce by 19.9% in the third quarter. 272 Capital LP now owns 1,060,455 shares of the company’s stock valued at $6,204,000 after purchasing an additional 175,705 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in BigCommerce by 16.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,079,973 shares of the company’s stock valued at $6,318,000 after purchasing an additional 150,260 shares during the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

BigCommerce Stock Performance

Shares of BIGC opened at $5.97 on Monday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a market cap of $469.24 million, a PE ratio of -17.06 and a beta of 1.13. The company’s 50 day simple moving average is $6.45 and its 200-day simple moving average is $6.27. BigCommerce Holdings, Inc. has a 12-month low of $5.13 and a 12-month high of $8.60.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The company had revenue of $87.03 million for the quarter, compared to analyst estimates of $86.90 million. As a group, equities analysts predict that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Ellen F. Siminoff purchased 177,158 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the completion of the acquisition, the director now directly owns 253,333 shares in the company, valued at $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BIGC. Barclays lowered shares of BigCommerce from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, BigCommerce currently has an average rating of “Hold” and an average price target of $7.80.

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.