Brian Singh Dhatt Sells 5,608 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) Stock

Posted by Defense World Staff on Jun 2nd, 2023

BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Rating) CTO Brian Singh Dhatt sold 5,608 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $7.47, for a total value of $41,891.76. Following the completion of the sale, the chief technology officer now directly owns 234,531 shares in the company, valued at $1,751,946.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BigCommerce Stock Up 10.9 %

Shares of BIGC opened at $8.84 on Friday. BigCommerce Holdings, Inc. has a 52-week low of $6.81 and a 52-week high of $21.80. The company has a market cap of $659.02 million, a PE ratio of -5.20 and a beta of 0.65. The company has a quick ratio of 4.69, a current ratio of 4.69 and a debt-to-equity ratio of 9.81. The business has a fifty day moving average of $7.92 and a 200 day moving average of $9.09.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIGC. Morgan Stanley reduced their price target on BigCommerce from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of BigCommerce in a research note on Friday, February 24th. DA Davidson began coverage on shares of BigCommerce in a report on Wednesday, March 8th. They issued a “neutral” rating and a $11.00 price objective for the company. Piper Sandler cut their target price on BigCommerce from $10.00 to $9.00 in a research note on Friday, May 5th. Finally, Canaccord Genuity Group decreased their price target on BigCommerce from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, February 24th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.88.

Institutional Trading of BigCommerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIGC. Belpointe Asset Management LLC bought a new position in BigCommerce in the fourth quarter worth approximately $45,000. Venturi Wealth Management LLC bought a new position in shares of BigCommerce in the 1st quarter worth $56,000. Advisors Asset Management Inc. lifted its holdings in shares of BigCommerce by 81.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after purchasing an additional 1,673 shares during the last quarter. Versor Investments LP acquired a new stake in shares of BigCommerce in the 4th quarter worth $88,000. Finally, Avondale Wealth Management purchased a new stake in BigCommerce during the 1st quarter worth approximately $89,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Company Profile

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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.