Brightcove’s (BCOV) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Brightcove (NASDAQ:BCOV) in a research report report published on Monday, MarketBeat.com reports. They currently have a $4.45 price objective on the software maker’s stock, down from their previous price objective of $5.00.

A number of other research analysts have also commented on the company. Lake Street Capital upgraded Brightcove from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.75 to $3.50 in a research report on Tuesday, November 5th. StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Brightcove Stock Down 0.5 %

NASDAQ:BCOV opened at $4.29 on Monday. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.33. The company’s 50-day moving average price is $2.48 and its two-hundred day moving average price is $2.30. The firm has a market cap of $193.65 million, a PE ratio of -20.43 and a beta of 0.74.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 48,988 shares of company stock worth $100,789. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BCOV. Geode Capital Management LLC lifted its stake in Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after purchasing an additional 37,584 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock valued at $530,000 after purchasing an additional 225,482 shares during the period. Edenbrook Capital LLC grew its holdings in Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after purchasing an additional 120,121 shares during the period. P.A.W. Capital Corp purchased a new position in shares of Brightcove in the 3rd quarter worth about $540,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Brightcove in the 2nd quarter worth approximately $54,000. 80.12% of the stock is owned by institutional investors.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.