Brightcove (NASDAQ:BCOV) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a strong-buy rating in a research report released on Tuesday.

Separately, Lake Street Capital upgraded shares of Brightcove from a “hold” rating to a “buy” rating and upped their target price for the company from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Price Performance

BCOV stock opened at $3.04 on Tuesday. The company has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.22. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $3.06. The stock has a market capitalization of $137.23 million, a PE ratio of -14.48 and a beta of 0.74.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was bought at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. The trade was a 0.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 48,988 shares of company stock worth $100,789. Insiders own 3.70% of the company’s stock.

Institutional Trading of Brightcove

Several institutional investors and hedge funds have recently made changes to their positions in BCOV. Edenbrook Capital LLC grew its holdings in shares of Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after buying an additional 120,121 shares during the period. Lynrock Lake LP grew its holdings in shares of Brightcove by 2.3% in the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after buying an additional 100,000 shares during the period. Nantahala Capital Management LLC acquired a new position in shares of Brightcove in the 2nd quarter valued at $3,114,000. Acadian Asset Management LLC grew its holdings in shares of Brightcove by 17.3% in the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after buying an additional 139,049 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in shares of Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after buying an additional 269,302 shares during the period. Institutional investors own 80.12% of the company’s stock.

Brightcove Company 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.