Connor Clark & Lunn Investment Management Ltd. Acquires 256,783 Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 196.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 387,745 shares of the company’s stock after purchasing an additional 256,783 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in BigCommerce were worth $2,268,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BIGC. Vanguard Group Inc. boosted its holdings in shares of BigCommerce by 5.9% in the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock valued at $70,817,000 after buying an additional 572,396 shares during the period. Clearbridge Investments LLC boosted its stake in BigCommerce by 8.0% in the 2nd quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company’s stock worth $11,551,000 after purchasing an additional 106,080 shares during the period. Clearline Capital LP increased its holdings in BigCommerce by 27.3% during the 2nd quarter. Clearline Capital LP now owns 949,931 shares of the company’s stock worth $7,656,000 after purchasing an additional 203,785 shares in the last quarter. 272 Capital LP raised its stake in shares of BigCommerce by 40.0% in the 2nd quarter. 272 Capital LP now owns 884,750 shares of the company’s stock valued at $7,131,000 after purchasing an additional 252,946 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of BigCommerce by 42.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company’s stock valued at $4,602,000 after purchasing an additional 198,638 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Stock Performance

NASDAQ BIGC opened at $7.19 on Tuesday. The firm has a market capitalization of $563.55 million, a P/E ratio of -19.97 and a beta of 0.99. 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’s fifty day moving average price is $5.86 and its two-hundred day moving average price is $6.73. BigCommerce Holdings, Inc. has a 1 year low of $5.13 and a 1 year high of $10.19.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BIGC shares. Stifel Nicolaus decreased their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Bank of America lowered their price objective on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 29th. Barclays reduced their target price on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, BigCommerce currently has an average rating of “Hold” and an average price target 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.