JPMorgan Chase & Co. Has $66,000 Stake in Brightcove Inc. (NASDAQ:BCOV)

JPMorgan Chase & Co. increased its holdings in shares of Brightcove Inc. (NASDAQ:BCOV) by 99.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,689 shares of the software maker’s stock after purchasing an additional 15,291 shares during the period. JPMorgan Chase & Co.’s holdings in Brightcove were worth $66,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on BCOV. Rosenblatt Securities reiterated a “neutral” rating and issued a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, StockNews.com began coverage on shares of Brightcove in a report on Tuesday. They set a “buy” rating on the stock.

Brightcove Stock Up 0.2 %

BCOV opened at $4.45 on Tuesday. The company has a market capitalization of $202.12 million, a price-to-earnings ratio of -21.19 and a beta of 1.01. The firm has a 50-day moving average price of $4.37 and a 200-day moving average price of $3.05. Brightcove Inc. has a twelve month low of $1.55 and a twelve month high of $4.46.

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.