Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Buys $10,796.70 in Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 6,351 shares of Brightcove stock in a transaction that occurred on Friday, April 12th. The shares were purchased at an average cost of $1.70 per share, with a total value of $10,796.70. Following the transaction, the insider now directly owns 6,455,802 shares of the company’s stock, valued at $10,974,863.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Edenbrook Capital, Llc also recently made the following trade(s):

• On Wednesday, April 10th, Edenbrook Capital, Llc bought 5,000 shares of Brightcove stock. The stock was bought at an average cost of $1.80 per share, with a total value of $9,000.00.
• On Tuesday, April 2nd, Edenbrook Capital, Llc acquired 5,190 shares of Brightcove stock. The stock was acquired at an average cost of $1.85 per share, for a total transaction of $9,601.50.
• On Wednesday, March 20th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The stock was purchased at an average cost of $1.88 per share, with a total value of $56,400.00.

Brightcove Trading Down 4.5 %

Shares of BCOV stock traded down $0.08 on Friday, reaching $1.70. 179,120 shares of the company’s stock were exchanged, compared to its average volume of 220,828. The company’s fifty day simple moving average is $2.03 and its 200 day simple moving average is $2.43. Brightcove Inc. has a 52 week low of $1.70 and a 52 week high of $4.56. The stock has a market capitalization of $75.50 million, a PE ratio of -3.28 and a beta of 0.68.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Thursday, February 22nd. The software maker reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. Brightcove had a negative return on equity of 17.02% and a negative net margin of 11.38%. The business had revenue of $50.16 million during the quarter. As a group, sell-side analysts predict that Brightcove Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Brightcove

A number of institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its holdings in shares of Brightcove by 162.0% during the first quarter. Federated Hermes Inc. now owns 2,205,445 shares of the software maker’s stock worth $17,202,000 after purchasing an additional 1,363,779 shares during the period. Lynrock Lake LP lifted its stake in Brightcove by 28.7% during the 4th quarter. Lynrock Lake LP now owns 3,146,959 shares of the software maker’s stock valued at $16,459,000 after acquiring an additional 701,509 shares during the period. BlackRock Inc. boosted its holdings in shares of Brightcove by 13.9% in the 2nd quarter. BlackRock Inc. now owns 3,079,211 shares of the software maker’s stock valued at $12,348,000 after acquiring an additional 376,943 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Brightcove by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 3,037,307 shares of the software maker’s stock worth $7,867,000 after acquiring an additional 234,892 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of Brightcove during the 2nd quarter valued at about $498,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BCOV. StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Rosenblatt Securities decreased their target price on Brightcove from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, Lake Street Capital reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Brightcove in a research note on Friday, February 23rd.

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.