SEC Form SC 13G filed by BigCommerce Holdings Inc.

2/12/24 2:29:34 PM ET

Computer Software: Prepackaged Software

Technology

Get the next $BIGC alert in real time by email

SC 13G 1 BigCommerceHoldingsBIGC.txt MS INITIAL UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.)* BigCommerce Holdings, Inc. ----------------------------------------------------- (Name of Issuer) Series 1 Common Stock ----------------------------------------------------- (Title of Class of Securities) 08975P108 ----------------------------------------------------- (CUSIP Number) December 31, 2023 ----------------------------------------------------- (Date Of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1745 (3-06) CUSIP No.08975P108 13G Page 2 of 8 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Morgan Stanley I.R.S. # 36-3145972 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 6,818,214 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 6,824,007 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 6,824,007 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 9.0% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: HC, CO -------------------------------------------------------------------------------- CUSIP No.08975P108 13G Page 3 of 8 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Morgan Stanley Capital Services LLC I.R.S. # 13-3292567 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 5,395,623 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 5,395,623 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 5,395,623 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 7.1% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: BD, CO -------------------------------------------------------------------------------- CUSIP No.08975P108 13G Page 4 of 8 Pages -------------------------------------------------------------------------------- Item 1. (a) Name of Issuer: BigCommerce Holdings, Inc. -------------------------------------------------------------- (b) Address of Issuer's Principal Executive Offices: 11305 FOUR POINTS DR, BLDG 2, SUITE 100 AUSTIN TX 78726 UNITED STATES OF AMERICA -------------------------------------------------------------- Item 2. (a) Name of Person Filing: (1) Morgan Stanley (2) Morgan Stanley Capital Services LLC -------------------------------------------------------------- (b) Address of Principal Business Office, or if None, Residence: (1) 1585 Broadway New York, NY 10036 (2) 1585 Broadway, New York, NY 10036 -------------------------------------------------------------- (c) Citizenship: (1) Delaware. (2) Delaware. -------------------------------------------------------------- (d) Title of Class of Securities: Series 1 Common Stock -------------------------------------------------------------- (e) CUSIP Number: 08975P108 -------------------------------------------------------------- Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [x] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [ ] An investment adviser in accordance with Sections 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) [x] A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with section 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with sections 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with sections 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Not Applicable CUSIP No.08975P108 13G Page 5 of 8 Pages -------------------------------------------------------------------------------- Item 4. Ownership as of December 31, 2023.* (a) Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s). (b) Percent of Class: See the response(s) to Item 11 on the attached cover page(s). (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s). (ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s). (iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s). (iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s). Item 5. Ownership of Five Percent or Less of a Class. Not Applicable Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company. See Exhibit 99.2 Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10. Certification. (1) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release. CUSIP No.08975P108 13G Page 6 of 8 Pages -------------------------------------------------------------------------------- Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Signature: /s/ Christopher O'Hara -------------------------------------------------------------------- Name/Title: Christopher O'Hara/Authorized Signatory, Morgan Stanley -------------------------------------------------------------------- MORGAN STANLEY Date: February 12, 2024 Signature: /s/ Christopher O'Hara -------------------------------------------------------------------- Name/Title: Christopher O'Hara/Authorized Signatory, Morgan Stanley Capital Services LLC -------------------------------------------------------------------- Morgan Stanley Capital Services LLC EXHIBIT NO. EXHIBITS PAGE ----------- ---------- ---- 99.1 Joint Filing Agreement 7 99.2 Item 7 Information 8 * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). CUSIP No.08975P108 13G Page 7 of 8 Pages -------------------------------------------------------------------------------- EXHIBIT NO. 99.1 TO SCHEDULE 13G JOINT FILING AGREEMENT --------------------------------------------------- February 12, 2024 --------------------------------------------------- MORGAN STANLEY and Morgan Stanley Capital Services LLC hereby agree that, unless differentiated, this Schedule 13G is filed on behalf of each of the parties. MORGAN STANLEY BY: /s/ Christopher O'Hara --------------------------------------------------------------------- Christopher O'Hara/Authorized Signatory, Morgan Stanley Morgan Stanley Capital Services LLC BY: /s/ Christopher O'Hara --------------------------------------------------------------------- Christopher O'Hara/Authorized Signatory, Morgan Stanley Capital Services LLC * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). CUSIP No.08975P108 13G Page 8 of 8 Pages -------------------------------------------------------------------------------- EXHIBIT NO. 99.2 ------------------ ITEM 7 INFORMATION The securities being reported on by Morgan Stanley as a parent holding company are owned, or may be deemed to be beneficially owned, by Morgan Stanley Capital Services LLC, a wholly-owned subsidiary of Morgan Stanley.

Get the next $BIGC alert in real time by email

Recent Analyst Ratings for

$BIGC

Date	Price Target	Rating	Analyst
1/10/2025	$8.00 → $7.00	Equal Weight → Underweight	Barclays
3/25/2024	$11.00 → $7.50	Neutral → Underperform	BofA Securities
2/5/2024	$11.50 → $9.50	Buy → Neutral	Goldman
9/22/2023	$12.00	Neutral	UBS
3/9/2023	$11.00	Neutral	DA Davidson
2/7/2023	$16.00 → $12.00	Overweight → Neutral	Piper Sandler
1/20/2023		Overweight → Sector Weight	KeyBanc Capital Markets
1/4/2023	$21.00 → $11.00	Buy → Neutral	BofA Securities

More analyst ratings

SEC Form SC 13G filed by BigCommerce Holdings Inc.

2/12/24 2:29:34 PM ET

$BIGC

Computer Software: Prepackaged Software

Technology

Get the next $BIGC alert in real time by email

Recent Analyst Ratings for

$BIGC

Date	Price Target	Rating	Analyst
1/10/2025	$8.00 → $7.00	Equal Weight → Underweight	Barclays
3/25/2024	$11.00 → $7.50	Neutral → Underperform	BofA Securities
2/5/2024	$11.50 → $9.50	Buy → Neutral	Goldman
9/22/2023	$12.00	Neutral	UBS
3/9/2023	$11.00	Neutral	DA Davidson
2/7/2023	$16.00 → $12.00	Overweight → Neutral	Piper Sandler
1/20/2023		Overweight → Sector Weight	KeyBanc Capital Markets
1/4/2023	$21.00 → $11.00	Buy → Neutral	BofA Securities

More analyst ratings

SEC Form SC 13G filed by BigCommerce Holdings Inc.

Crush Q3 2025 with the Best AI Executive Assistant

Recent Analyst Ratings for $BIGC

SEC Form SC 13G filed by BigCommerce Holdings Inc.

Crush Q3 2025 with the Best AI Executive Assistant

Recent Analyst Ratings for $BIGC

$BIGC Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

SEC Form 3 filed by new insider Kamath Anil

Chief Financial Officer Lentz Daniel covered exercise/tax liability with 3,339 units of Series 1 Common Stock, decreasing direct ownership by 1% to 256,501 units (SEC Form 4)

Director Malhotra Satish was granted 36,349 units of Series 1 Common Stock, increasing direct ownership by 50% to 109,050 units (SEC Form 4)

$BIGC Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

BigCommerce downgraded by Barclays with a new price target

BigCommerce downgraded by BofA Securities with a new price target

BigCommerce downgraded by Goldman with a new price target

$BIGC Leadership Updates

Live Leadership Updates

BigCommerce Appoints Former Adobe Fellow and Vice President of Technology Anil Kamath to its Board of Directors

BigCommerce and Feedonomics Announce Winners of APAC Region Customer and Partner Awards to Honor Exceptional Contributions and Results in Ecommerce

BigCommerce and Feedonomics Announce Winners of Americas Region Customer and Partner Awards to Honor Exceptional Contributions and Results in Ecommerce

$BIGC Large Ownership Changes

This live feed shows all institutional transactions in real time.

Amendment: SEC Form SC 13G/A filed by BigCommerce Holdings Inc.

Amendment: SEC Form SC 13G/A filed by BigCommerce Holdings Inc.

Amendment: SEC Form SC 13G/A filed by BigCommerce Holdings Inc.

$BIGC SEC Filings

BigCommerce Holdings Inc. filed SEC Form 8-K: Leadership Update

BigCommerce Holdings Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

SEC Form 10-Q filed by BigCommerce Holdings Inc.

$BIGC Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Director Siminoff Ellen F bought $1,176,382 worth of Series 1 Common Stock (177,158 units at $6.64) (SEC Form 4)

Director Siminoff Ellen F bought $147,625 worth of Series 1 Common Stock (22,842 units at $6.46) (SEC Form 4)

$BIGC Press Releases

Fastest customizable press release news feed in the world

BigCommerce Scores 24/24 Total Medals in 2025 Paradigm B2B Combine Midmarket and Enterprise Editions for Third Consecutive Year

Home Decor Brand Graham & Brown Boosts Operational Efficiency and Growth with BigCommerce

BigCommerce to Announce Second Quarter 2025 Financial Results on July 31, 2025

$BIGC Financials

Live finance-specific insights

BigCommerce to Announce Second Quarter 2025 Financial Results on July 31, 2025

BigCommerce Announces First Quarter 2025 Financial Results

BigCommerce to Announce First Quarter 2025 Financial Results on May 8, 2025

Recent Analyst Ratings for
$BIGC

Recent Analyst Ratings for
$BIGC

$BIGC
Insider Trading

$BIGC
Analyst Ratings

$BIGC
Leadership Updates

$BIGC
Large Ownership Changes

$BIGC
SEC Filings

$BIGC
Insider Purchases

$BIGC
Press Releases

$BIGC
Financials