Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Purchases $16,800.00 in Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc purchased 10,000 shares of the stock in a transaction on Monday, April 15th. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $16,800.00. Following the transaction, the insider now owns 6,465,802 shares of the company’s stock, valued at $10,862,547.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Friday, April 12th, Edenbrook Capital, Llc bought 6,351 shares of Brightcove stock. The stock was purchased at an average cost of $1.70 per share, for a total transaction of $10,796.70.
• On Wednesday, April 10th, Edenbrook Capital, Llc bought 5,000 shares of Brightcove stock. The stock was purchased at an average cost of $1.80 per share, for a total transaction of $9,000.00.
• On Tuesday, April 2nd, Edenbrook Capital, Llc bought 5,190 shares of Brightcove stock. The stock was purchased 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, for a total transaction of $56,400.00.

Brightcove Trading Up 1.2 %

Shares of BCOV stock opened at $1.74 on Friday. The stock has a market cap of $77.27 million, a P/E ratio of -3.22 and a beta of 0.68. The stock has a 50 day simple moving average of $1.97 and a 200 day simple moving average of $2.37. Brightcove Inc. has a 1 year low of $1.63 and a 1 year high of $4.56.

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

Institutional Investors Weigh In On Brightcove

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Werba Rubin Papier Wealth Management bought a new stake in Brightcove during the fourth quarter worth $27,000. Tower Research Capital LLC TRC lifted its stake in Brightcove by 386.1% during the first quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the software maker’s stock worth $28,000 after purchasing an additional 4,954 shares during the last quarter. Keel Point LLC bought a new stake in Brightcove during the fourth quarter worth $34,000. Ameriprise Financial Inc. bought a new stake in Brightcove during the third quarter worth $35,000. Finally, 17 Capital Partners LLC bought a new stake in Brightcove during the fourth quarter worth $36,000. 80.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on BCOV. StockNews.com raised 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 reiterated a “hold” rating and issued a $3.00 price target 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.