Commonwealth Equity Services LLC Increases Stock Position in Brightcove Inc. (NASDAQ:BCOV)

Commonwealth Equity Services LLC lifted its holdings in shares of Brightcove Inc. (NASDAQ:BCOV – Get Rating) by 14.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 217,937 shares of the software maker’s stock after acquiring an additional 26,777 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Brightcove were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Brightcove in the 4th quarter worth approximately $179,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Brightcove by 111.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,905 shares of the software maker’s stock worth $91,000 after purchasing an additional 4,701 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Brightcove in the 4th quarter worth approximately $273,000. Dimensional Fund Advisors LP lifted its stake in Brightcove by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 328,919 shares of the software maker’s stock worth $3,362,000 after purchasing an additional 1,751 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Brightcove by 3,776.8% in the 4th quarter. BNP Paribas Arbitrage SA now owns 299,288 shares of the software maker’s stock worth $3,059,000 after purchasing an additional 291,568 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TheStreet cut shares of Brightcove from a “c” rating to a “d” rating in a research note on Friday, April 29th. StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Sunday, May 15th.

Brightcove Stock Performance

Brightcove stock opened at $6.74 on Friday. The firm’s fifty day moving average price is $6.47 and its 200-day moving average price is $7.23. The stock has a market cap of $282.39 million, a P/E ratio of -112.33 and a beta of 0.75. Brightcove Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $12.55.

Brightcove (NASDAQ:BCOV – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The software maker reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. Brightcove had a negative net margin of 1.20% and a positive return on equity of 2.63%. During the same quarter in the previous year, the company posted $0.04 EPS. On average, analysts predict that Brightcove Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 15,000 shares of the business’s stock in a transaction on Friday, July 29th. The stock was acquired at an average cost of $5.98 per share, for a total transaction of $89,700.00. Following the completion of the transaction, the insider now directly owns 4,844,955 shares in the company, valued at approximately $28,972,830.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have acquired a total of 50,748 shares of company stock worth $323,163 in the last 90 days. 3.70% of the stock is owned by company insiders.

Brightcove Company Profile

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Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.