Pale Fire Capital SE boosted its stake in shares of Commerce.com, Inc. (NASDAQ:CMRC – Free Report) by 294.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,952,094 shares of the company’s stock after buying an additional 2,203,169 shares during the period. Commerce.com comprises 0.7% of Pale Fire Capital SE’s holdings, making the stock its 17th biggest position. Pale Fire Capital SE’s holdings in Commerce.com were worth $7,882,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quarry LP purchased a new stake in Commerce.com in the 4th quarter worth $27,000. New York State Common Retirement Fund purchased a new position in shares of Commerce.com during the fourth quarter valued at about $35,000. T3 Companies LLC purchased a new position in shares of Commerce.com during the fourth quarter valued at about $41,000. Avondale Wealth Management bought a new stake in shares of Commerce.com in the fourth quarter worth about $41,000. Finally, Jain Global LLC bought a new stake in shares of Commerce.com in the fourth quarter worth about $46,000. 79.21% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CMRC. Wall Street Zen upgraded Commerce.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Needham & Company LLC restated a “buy” rating and set a $7.50 price target on shares of Commerce.com in a report on Thursday, April 30th. Barclays lifted their price objective on Commerce.com from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. UBS Group reaffirmed a “neutral” rating and set a $3.50 price objective on shares of Commerce.com in a report on Tuesday. Finally, Zacks Research downgraded Commerce.com from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Commerce.com has a consensus rating of “Reduce” and an average target price of $4.80.
Commerce.com Stock Performance
Shares of NASDAQ:CMRC opened at $2.71 on Friday. The firm has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $2.98. Commerce.com, Inc. has a 52 week low of $2.41 and a 52 week high of $5.55. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $223.60 million, a P/E ratio of -15.05 and a beta of 1.15.
About Commerce.com
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.
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