Brightcove Inc. (NASDAQ:BCOV - Get Free Report) major shareholder Edenbrook Capital, Llc purchased 6,351 shares of Brightcove stock in a transaction dated Friday, April 12th. The shares were acquired 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 in the company, valued at $10,974,863.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Edenbrook Capital, Llc also recently made the following trade(s):
- On Wednesday, April 10th, Edenbrook Capital, Llc purchased 5,000 shares of Brightcove stock. The stock was acquired at an average price 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 shares were bought at an average cost of $1.85 per share, with a total value of $9,601.50.
- On Wednesday, March 20th, Edenbrook Capital, Llc bought 30,000 shares of Brightcove stock. The stock was acquired at an average cost of $1.88 per share, with a total value of $56,400.00.
Brightcove Stock Down 4.5 %
NASDAQ BCOV opened at $1.70 on Friday. The company has a fifty day moving average of $2.02 and a two-hundred day moving average of $2.42. The firm has a market capitalization of $75.50 million, a price-to-earnings ratio of -3.15 and a beta of 0.68. Brightcove Inc. has a 52 week low of $1.70 and a 52 week high of $4.56.
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Brightcove (NASDAQ:BCOV - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $50.16 million during the quarter. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. Equities research analysts anticipate that Brightcove Inc. will post -0.33 EPS for the current year.
Institutional Trading of Brightcove
Institutional investors and hedge funds have recently made changes to their positions in the business. Werba Rubin Papier Wealth Management bought a new stake in shares of Brightcove in the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC grew its stake in Brightcove by 386.1% in the first quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the software maker's stock valued at $28,000 after purchasing an additional 4,954 shares during the last quarter. Keel Point LLC purchased a new position in Brightcove in the fourth quarter valued at about $34,000. Ameriprise Financial Inc. purchased a new position in Brightcove in the third quarter valued at about $35,000. Finally, 17 Capital Partners LLC purchased a new position in Brightcove in the fourth quarter valued at about $36,000. 80.12% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on BCOV shares. Lake Street Capital reissued a "hold" rating and issued a $3.00 target price on shares of Brightcove in a report on Friday, February 23rd. Rosenblatt Securities dropped their price objective on shares of Brightcove from $7.50 to $5.00 and set a "buy" rating for the company in a research note on Friday, February 23rd. Finally, StockNews.com raised shares of Brightcove from a "hold" rating to a "buy" rating in a research note on Friday, March 22nd.
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About Brightcove
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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.
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