Brightcove (NASDAQ:BCOV) Given Neutral Rating at Rosenblatt Securities

Brightcove (NASDAQ:BCOV)‘s stock had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities in a report released on Monday,Benzinga reports. They presently have a $4.45 price objective on the software maker’s stock, down from their previous price objective of $5.00. Rosenblatt Securities’ price target indicates a potential upside of 3.01% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th. StockNews.com cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Brightcove Price Performance

BCOV stock traded up $1.13 during midday trading on Monday, hitting $4.32. The stock had a trading volume of 1,442,552 shares, compared to its average volume of 250,566. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.33. The firm has a market cap of $195.00 million, a price-to-earnings ratio of -20.57 and a beta of 0.74. The business has a 50-day moving average of $2.39 and a two-hundred day moving average of $2.27.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD purchased a new position in Brightcove in the 1st quarter worth about $29,000. Aaron Wealth Advisors LLC bought a new stake in Brightcove during the 2nd quarter valued at $34,000. XTX Topco Ltd purchased a new position in shares of Brightcove during the second quarter valued at $36,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Brightcove by 89.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after purchasing an additional 10,120 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in Brightcove in the second quarter worth approximately $47,000. Hedge funds and other 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.