Insider Buying: Brightcove Inc. (NASDAQ:BCOV) Major Shareholder Buys 10,000 Shares of Stock

Brightcove Inc. (NASDAQ:BCOV) major shareholder Edenbrook Capital, Llc acquired 10,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were acquired at an average cost of $1.68 per share, with a total value of $16,800.00. Following the acquisition, the insider now directly owns 6,465,802 shares of the company’s stock, valued at approximately $10,862,547.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 purchased 6,351 shares of Brightcove stock. The stock was bought at an average cost of $1.70 per share, with a total value of $10,796.70.
• On Wednesday, April 10th, Edenbrook Capital, Llc acquired 5,000 shares of Brightcove stock. The shares were 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 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 acquired 30,000 shares of Brightcove stock. The stock was purchased at an average price of $1.88 per share, with a total value of $56,400.00.

Brightcove Price Performance

BCOV opened at $1.72 on Friday. The stock’s 50 day simple moving average is $1.98 and its 200 day simple moving average is $2.38. The firm has a market cap of $76.39 million, a price-to-earnings ratio of -3.19 and a beta of 0.68. Brightcove Inc. has a 1 year low of $1.63 and a 1 year high of $4.56.

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

Analyst Ratings Changes

BCOV has been the subject of several research reports. Rosenblatt Securities cut their target price on Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Lake Street Capital reiterated a “hold” rating and issued a $3.00 target price on shares of Brightcove in a research report on Friday, February 23rd. Finally, StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd.

Institutional Investors Weigh In On Brightcove

A number of large investors have recently added to or reduced their stakes in BCOV. Quadrature Capital Ltd raised its stake in shares of Brightcove by 87.9% during the fourth quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker’s stock valued at $196,000 after acquiring an additional 35,360 shares during the last quarter. Vanguard Group Inc. increased its holdings in Brightcove by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 3,037,307 shares of the software maker’s stock valued at $7,867,000 after purchasing an additional 234,892 shares during the period. Goldman Sachs Group Inc. raised its position in Brightcove by 43.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 211,437 shares of the software maker’s stock valued at $548,000 after purchasing an additional 64,177 shares during the last quarter. Virtu Financial LLC purchased a new stake in Brightcove in the 4th quarter worth approximately $38,000. Finally, GSA Capital Partners LLP grew its position in shares of Brightcove by 679.8% in the 4th quarter. GSA Capital Partners LLP now owns 89,714 shares of the software maker’s stock worth $232,000 after buying an additional 78,209 shares during the last quarter. Institutional investors own 80.12% of the company’s stock.

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.