Connor Clark & Lunn Investment Management Ltd. Has $2.27 Million Stock Holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 196.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,745 shares of the company’s stock after buying an additional 256,783 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.50% of BigCommerce worth $2,268,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BIGC. Vanguard Group Inc. lifted its position in shares of BigCommerce by 5.9% during the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after purchasing an additional 572,396 shares in the last quarter. Divisar Capital Management LLC bought a new position in BigCommerce in the 2nd quarter worth approximately $4,274,000. Clearline Capital LP lifted 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 buying an additional 203,785 shares in the last quarter. Algert Global LLC boosted its position in BigCommerce by 89.4% in the 2nd quarter. Algert Global LLC now owns 267,850 shares of the company’s stock valued at $2,159,000 after buying an additional 126,443 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of BigCommerce in the 1st quarter valued at $104,000. Institutional investors own 79.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America cut their price target on BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, August 29th. Barclays lowered their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a report on Thursday, October 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.81.

BigCommerce Stock Up 5.3 %

Shares of NASDAQ:BIGC opened at $7.19 on Tuesday. The company has a 50 day moving average price of $5.86 and a two-hundred day moving average price of $6.73. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The company has a market capitalization of $563.55 million, a PE ratio of -19.97 and a beta of 0.99. BigCommerce Holdings, Inc. has a 52 week low of $5.13 and a 52 week high of $10.19.

About BigCommerce

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.