Insider Buying: Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Purchases 27,700 Shares of Stock

Brightcove Inc. (NASDAQ:BCOVGet Rating) major shareholder Edenbrook Capital, Llc acquired 27,700 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was acquired at an average price of $6.46 per share, with a total value of $178,942.00. Following the transaction, the insider now owns 5,099,243 shares in the company, valued at approximately $32,941,109.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Tuesday, September 20th, Edenbrook Capital, Llc acquired 15,000 shares of Brightcove stock. The stock was acquired at an average price of $6.61 per share, with a total value of $99,150.00.
  • On Thursday, September 15th, Edenbrook Capital, Llc acquired 16,369 shares of Brightcove stock. The stock was acquired at an average price of $6.63 per share, with a total value of $108,526.47.
  • On Tuesday, September 13th, Edenbrook Capital, Llc acquired 30,000 shares of Brightcove stock. The stock was acquired at an average price of $6.75 per share, with a total value of $202,500.00.
  • On Wednesday, September 7th, Edenbrook Capital, Llc bought 25,000 shares of Brightcove stock. The stock was purchased at an average cost of $6.62 per share, with a total value of $165,500.00.
  • On Monday, August 29th, Edenbrook Capital, Llc bought 3,600 shares of Brightcove stock. The stock was purchased at an average cost of $6.45 per share, with a total value of $23,220.00.
  • On Thursday, August 25th, Edenbrook Capital, Llc bought 15,000 shares of Brightcove stock. The stock was purchased at an average cost of $6.59 per share, with a total value of $98,850.00.
  • On Tuesday, August 23rd, Edenbrook Capital, Llc bought 7,595 shares of Brightcove stock. The stock was purchased at an average cost of $6.55 per share, with a total value of $49,747.25.
  • On Thursday, August 18th, Edenbrook Capital, Llc bought 7,849 shares of Brightcove stock. The stock was purchased at an average cost of $6.68 per share, with a total value of $52,431.32.
  • On Monday, August 15th, Edenbrook Capital, Llc bought 5,853 shares of Brightcove stock. The stock was purchased at an average cost of $6.77 per share, with a total value of $39,624.81.
  • On Friday, August 12th, Edenbrook Capital, Llc acquired 11,029 shares of Brightcove stock. The shares were bought at an average cost of $6.77 per share, with a total value of $74,666.33.

Brightcove Trading Down 1.1 %

Shares of Brightcove stock traded down $0.07 during trading on Friday, reaching $6.43. The stock had a trading volume of 106,669 shares, compared to its average volume of 172,282. The company has a market capitalization of $269.40 million, a price-to-earnings ratio of -107.17 and a beta of 0.70. The stock has a fifty day moving average price of $6.52 and a two-hundred day moving average price of $6.87. Brightcove Inc. has a 52 week low of $5.84 and a 52 week high of $12.46.

Brightcove (NASDAQ:BCOVGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The software maker reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Brightcove had a positive return on equity of 2.63% and a negative net margin of 1.20%. During the same period last year, the business earned $0.04 EPS. On average, equities analysts forecast that Brightcove Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Rosenblatt Securities assumed coverage on Brightcove in a research note on Thursday, September 8th. They set a “neutral” rating and a $8.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Brightcove presently has a consensus rating of “Hold” and an average target price of $13.33.

Institutional Trading of Brightcove

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. raised its holdings in Brightcove by 0.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 310,375 shares of the software maker’s stock worth $2,421,000 after acquiring an additional 1,420 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Brightcove by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 328,919 shares of the software maker’s stock valued at $3,362,000 after buying an additional 1,751 shares during the period. Strs Ohio raised its stake in Brightcove by 5.9% in the second quarter. Strs Ohio now owns 45,000 shares of the software maker’s stock valued at $284,000 after buying an additional 2,500 shares during the period. MetLife Investment Management LLC raised its stake in Brightcove by 17.6% in the first quarter. MetLife Investment Management LLC now owns 16,811 shares of the software maker’s stock valued at $131,000 after buying an additional 2,515 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Brightcove by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 176,470 shares of the software maker’s stock valued at $1,377,000 after buying an additional 2,841 shares during the period. Institutional investors own 86.21% of the company’s stock.

Brightcove Company Profile

(Get Rating)

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.

See Also

Insider Buying and Selling by Quarter for Brightcove (NASDAQ:BCOV)

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