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

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

BCOV has been the subject of several other reports. Lake Street Capital raised shares of Brightcove from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.75 to $3.50 in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Brightcove Stock Performance

NASDAQ:BCOV traded up $1.13 during mid-day trading on Monday, hitting $4.32. 1,442,552 shares of the company’s stock traded hands, compared to its average volume of 250,566. The company has a market capitalization of $195.00 million, a P/E ratio of -20.57 and a beta of 0.74. The company has a fifty day moving average of $2.39 and a 200 day moving average of $2.27. Brightcove has a twelve month low of $1.55 and a twelve month high of $4.33.

Insider Buying and Selling at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction on Thursday, September 26th. The shares were acquired 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 in the company, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 48,988 shares of company stock worth $100,789. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Brightcove by 8.3% during the third quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after purchasing an additional 37,584 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after purchasing an additional 225,482 shares in the last quarter. Edenbrook Capital LLC grew its position in shares of Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after purchasing an additional 120,121 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in shares of Brightcove in the third quarter valued at approximately $540,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Brightcove during the second quarter worth approximately $54,000. Hedge funds and other 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.