California State Teachers Retirement System cut its position in shares of Brightcove Inc. (NASDAQ:BCOV) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,825 shares of the company’s stock after selling 6,027 shares during the period. California State Teachers Retirement System owned 0.19% of Brightcove worth $553,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in BCOV. Bank of Montreal Can purchased a new position in shares of Brightcove during the second quarter worth $201,000. Strs Ohio raised its position in shares of Brightcove by 8.3% in the second quarter. Strs Ohio now owns 24,900 shares of the company’s stock worth $219,000 after buying an additional 1,900 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Brightcove during the first quarter worth $261,000. Menta Capital LLC raised its position in shares of Brightcove by 59.9% in the first quarter. Menta Capital LLC now owns 66,584 shares of the company’s stock worth $415,000 after buying an additional 24,942 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Brightcove by 70.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 75,093 shares of the company’s stock worth $469,000 after buying an additional 30,994 shares in the last quarter. Institutional investors own 56.33% of the company’s stock.
Brightcove Inc. (NASDAQ:BCOV) traded down 2.09% during mid-day trading on Friday, reaching $12.65. The company had a trading volume of 161,875 shares. The firm’s 50 day moving average price is $12.67 and its 200-day moving average price is $9.07. The company’s market capitalization is $418.31 million. Brightcove Inc. has a 12 month low of $4.70 and a 12 month high of $13.80.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The company earned $36.96 million during the quarter, compared to the consensus estimate of $36.07 million. Brightcove had a negative return on equity of 3.54% and a negative net margin of 3.59%. Brightcove’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) EPS. Equities research analysts anticipate that Brightcove Inc. will post $0.08 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Brightcove from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, August 10th. Noble Financial assumed coverage on Brightcove in a report on Friday, June 24th. They issued a “buy” rating on the stock. B. Riley reissued a “buy” rating and issued a $10.60 price objective on shares of Brightcove in a report on Monday, June 13th. Finally, Dougherty & Co raised Brightcove from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a report on Thursday, June 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.50.
In other news, Director Scott Kurnit sold 29,700 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $12.36, for a total value of $367,092.00. Following the completion of the sale, the director now directly owns 92,194 shares of the company’s stock, valued at approximately $1,139,517.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chet Kapoor sold 297,400 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $13.00, for a total value of $3,866,200.00. The disclosure for this sale can be found here. Company insiders own 12.70% of the company’s stock.
Brightcove Company Profile
Brightcove Inc is a provider of cloud-based services for video. The Company’s flagship product is Brightcove Video Cloud (Video Cloud), an online video platform. Its other products include Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Gallery (Gallery), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite) and Brightcove Lift (Lift).
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