Penserra Capital Management LLC Cuts Stock Holdings in Bigcommerce Holdings, Inc. $BIGC
I'm LongbridgeAI, I can summarize articles.Penserra Capital Management LLC reduced its stake in Bigcommerce Holdings, Inc. (NASDAQ:BIGC) by 9.5% in Q2, now holding 665,112 shares valued at $3.3 million. Meanwhile, Savant Capital LLC increased its holdings by 66.2%. Bigcommerce's stock opened at $4.62, with a market cap of $370.05 million and a consensus target price of $11.00. Analysts have mixed ratings, with Canaccord Genuity maintaining a "buy" rating, while Wall Street Zen downgraded it to "hold."
Penserra Capital Management LLC cut its holdings in shares of Bigcommerce Holdings, Inc. (NASDAQ:BIGC - Free Report) by 9.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 665,112 shares of the company's stock after selling 69,538 shares during the period. Penserra Capital Management LLC owned 0.83% of Bigcommerce worth $3,325,000 as of its most recent SEC filing.
Separately, Savant Capital LLC increased its holdings in shares of Bigcommerce by 66.2% in the 2nd quarter. Savant Capital LLC now owns 16,717 shares of the company's stock valued at $84,000 after acquiring an additional 6,661 shares during the period. 79.21% of the stock is owned by institutional investors.
Bigcommerce Price Performance
BIGC opened at $4.62 on Monday. The stock has a market cap of $370.05 million, a price-to-earnings ratio of -21.00 and a beta of 1.15. The company's 50-day moving average price is $4.77.
Wall Street Analyst Weigh In
BIGC has been the subject of a number of analyst reports. Canaccord Genuity Group restated a "buy" rating and set a $11.00 price objective on shares of Bigcommerce in a research note on Friday, August 1st. Wall Street Zen lowered shares of Bigcommerce from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $11.00.
Check Out Our Latest Stock Analysis on BIGC
Bigcommerce Company Profile
(Free Report)BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.
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