Brightcove Inc. (NASDAQ:BCOV) Shares Purchased by Strs Ohio

Posted by Defense World Staff on Nov 2nd, 2023

Strs Ohio lifted its holdings in Brightcove Inc. (NASDAQ:BCOV – Free Report) by 8.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,700 shares of the software maker’s stock after purchasing an additional 4,600 shares during the period. Strs Ohio owned approximately 0.14% of Brightcove worth $235,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its holdings in Brightcove by 8.2% during the 1st quarter. Swiss National Bank now owns 72,900 shares of the software maker’s stock worth $569,000 after acquiring an additional 5,500 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Brightcove by 17.6% during the 1st quarter. MetLife Investment Management LLC now owns 16,811 shares of the software maker’s stock worth $131,000 after acquiring an additional 2,515 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Brightcove by 28.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 422,359 shares of the software maker’s stock worth $3,295,000 after acquiring an additional 93,440 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Brightcove by 0.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 310,375 shares of the software maker’s stock worth $2,421,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Brightcove by 162.0% during the 1st quarter. Federated Hermes Inc. now owns 2,205,445 shares of the software maker’s stock worth $17,202,000 after acquiring an additional 1,363,779 shares in the last quarter. Institutional investors and hedge funds own 85.68% of the company’s stock.

Insider Activity at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 9,346 shares of Brightcove stock in a transaction that occurred on Wednesday, September 20th. The stock was purchased at an average price of $3.44 per share, for a total transaction of $32,150.24. Following the transaction, the insider now directly owns 6,286,482 shares in the company, valued at $21,625,498.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 61,215 shares of company stock worth $209,342 in the last 90 days. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on BCOV. StockNews.com began coverage on shares of Brightcove in a report on Thursday, October 5th. They set a “buy” rating for the company. Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.50 to $5.00 in a research report on Monday, July 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $9.00 price objective on shares of Brightcove in a research report on Tuesday, August 1st.

Read Our Latest Stock Report on BCOV

Brightcove Trading Down 7.8 %

Shares of NASDAQ:BCOV opened at $2.84 on Thursday. The company has a market capitalization of $122.83 million, a PE ratio of -4.81 and a beta of 0.81. Brightcove Inc. has a twelve month low of $2.83 and a twelve month high of $7.39. The firm has a 50 day simple moving average of $3.34 and a 200-day simple moving average of $3.77.

Brightcove (NASDAQ:BCOV – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The software maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $50.99 million during the quarter, compared to the consensus estimate of $50.85 million. Brightcove had a negative net margin of 12.31% and a negative return on equity of 18.63%. As a group, equities research analysts predict that Brightcove Inc. will post -0.36 EPS for the current fiscal year.

Brightcove Company Profile

(Free Report)

Brightcove Inc provides cloud-based streaming services. Its flagship product includes Video Cloud, an online video streaming platform that enables its customers to distribute high-quality video to internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences of multiple monetization models; Brightcove Player, a cloud-based technology for creating and managing video experiences; Zencoder, a cloud-based video encoding technology; and Brightcove Audience Insights, a business intelligence platform that provides actionable intelligence on viewers and subscribers.