Brightcove Inc. (NASDAQ:BCOV) is Edenbrook Capital LLC’s 6th Largest Position

Edenbrook Capital LLC increased its position in Brightcove Inc. (NASDAQ:BCOV) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,651,535 shares of the software maker’s stock after purchasing an additional 120,121 shares during the period. Brightcove accounts for 6.1% of Edenbrook Capital LLC’s portfolio, making the stock its 6th biggest position. Edenbrook Capital LLC owned approximately 0.15% of Brightcove worth $14,367,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. P.A.W. Capital Corp bought a new stake in shares of Brightcove during the 3rd quarter valued at $540,000. Cubist Systematic Strategies LLC bought a new stake in Brightcove during the second quarter worth about $54,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Brightcove during the second quarter worth about $142,000. Nantahala Capital Management LLC purchased a new stake in Brightcove in the second quarter worth about $3,114,000. Finally, Lynrock Lake LP increased its stake in shares of Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 80.12% of the company’s stock.

Insider Activity at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were purchased at an average cost of $2.07 per share, with a total value of $41,400.00. Following the completion of the acquisition, the insider now directly owns 6,651,535 shares in the company, valued at $13,768,677.45. This trade represents a 0.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought 48,988 shares of company stock valued at $100,789 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Brightcove Stock Down 0.2 %

Shares of Brightcove stock opened at $4.31 on Wednesday. The company has a 50-day simple moving average of $2.43 and a two-hundred day simple moving average of $2.29. Brightcove Inc. has a 52-week low of $1.55 and a 52-week high of $4.33.

Wall Street Analyst Weigh In

BCOV has been the topic of a number of analyst reports. StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 target price (down from $5.00) on shares of Brightcove in a research note on Monday.

Brightcove Profile

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.