BigCommerce Holdings Inc. [NASDAQ: BIGC] price plunged by -8.91 percent to reach at -$6.53. The company report on November 13, 2020 that BigCommerce Announces Pricing of Follow-on Public Offering.
BigCommerce Holdings, Inc. (“BigCommerce” or the “Company”) (Nasdaq: BIGC) today announced the pricing of its previously announced follow-on public offering of its Series 1 common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”) at a price to the public of $68.00 per share. BigCommerce is offering 1,000,000 shares of its Series 1 common stock and the selling stockholders named in the registration statement, including certain members of management and entities affiliated with directors of the Company, are offering 4,000,000 shares of the Company’s Series 1 common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of the Company’s Series 1 common stock at the public offering price. The Company will not receive any proceeds from the sale of the shares by the selling stockholders. The offering is expected to close on November 17, 2020, subject to customary closing conditions.
J.P. Morgan and Barclays are serving as lead book-running managers for the proposed offering. Morgan Stanley, Jefferies and KeyBanc Capital Markets are acting as book-running managers. Canaccord Genuity, Needham & Company, Piper Sandler, Raymond James, Stifel and Truist Securities are acting as co-managers for the offering.
A sum of 7520730 shares traded at recent session while its average daily volume was at 2.85M shares. BigCommerce Holdings Inc. shares reached a high of $69.69 and dropped to a low of $65.50 until finishing in the latest session at $66.79.
The one-year BIGC stock forecast points to a potential upside of 25.79. The average equity rating for BIGC stock is currently 3.20, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on BigCommerce Holdings Inc. [BIGC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BIGC shares is $90.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BIGC stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for BigCommerce Holdings Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on November 13, 2020. While these analysts kept the previous recommendation, Guggenheim raised their target price to Sell. The new note on the price target was released on October 27, 2020, representing the official price target for BigCommerce Holdings Inc. stock. Previously, the target price had yet another raise to $90, while Wedbush analysts kept a Neutral rating on BIGC stock.
The Average True Range (ATR) for BigCommerce Holdings Inc. is set at 6.39, with the Price to Sales ratio for BIGC stock in the period of the last 12 months amounting to 32.31. The Price to Book ratio for the last quarter was 28.54, with the Price to Cash per share for the same quarter was set at 2.60.
BIGC Stock Performance Analysis:
BigCommerce Holdings Inc. [BIGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.99.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BIGC stock in for the last two-week period is set at 36.36, with the RSI for the last a single of trading hit 30.66, and the three-weeks RSI is set at 40.51 for BigCommerce Holdings Inc. [BIGC]. The present Moving Average for the last 50 days of trading for this stock 85.33, while it was recorded at 71.99 for the last single week of trading.
Insight into BigCommerce Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and BigCommerce Holdings Inc. [BIGC] shares currently have an operating margin of -36.56 and a Gross Margin at +75.89. BigCommerce Holdings Inc.’s Net Margin is presently recorded at -37.99.
Return on Total Capital for BIGC is now -148.85, given the latest momentum, and Return on Invested Capital for the company is -173.68. Additionally, BIGC Total Debt to Total Capital is recorded at 230.34, with Total Debt to Total Assets ending up at 105.75.
Reflecting on the efficiency of the workforce at the company, BigCommerce Holdings Inc. [BIGC] managed to generate an average of -$61,725 per employee. Receivables Turnover for the company is 8.69 with a Total Asset Turnover recorded at a value of 1.95.BigCommerce Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.10.
BigCommerce Holdings Inc. [BIGC] Insider Position Details
There are presently around $457 million, or 26.60% of BIGC stock, in the hands of institutional investors. The top three institutional holders of BIGC stocks are: GOLDMAN SACHS GROUP INC with ownership of 2,333,624, which is approximately New of the company’s market cap and around 21.30% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 700,000 shares of the stock with an approximate value of $46.75 million in BIGC stocks shares; and BLACKROCK INC., currently with $40.76 million in BIGC stock with ownership of nearly New of the company’s market capitalization.
Positions in BigCommerce Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 87 institutional holders increased their position in BigCommerce Holdings Inc. [NASDAQ:BIGC] by around 6,841,350 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 6,841,350 shares, according to the latest SEC report filing. BIGC stock had 87 new institutional investments in for a total of 6,841,350 shares, while 0 institutional investors sold positions of 0 shares during the same period.