WAVEMAN · COMPANY

CMRC · Commerce.Com, Inc.

LIVE

TEAM-0.32% 13F +439META+3.01% 13F +2,694RCG-2.04% CLUSTERUTHR-4.03% 13F +425CRWV+4.49% 13F +693CRM+2.92% 13F +1,018CVNA-0.98% 13F +794TPL-0.71% 13F +444NET+4.32% 13F +710MSTR+17.56% 13F +526DELL+4.91% 13F +1,203CRWD+5.68% 13F +1,382ANET+1.22% 13F +1,323COIN+10.14% 13F +475TEAM-0.32% 13F +439META+3.01% 13F +2,694RCG-2.04% CLUSTERUTHR-4.03% 13F +425CRWV+4.49% 13F +693CRM+2.92% 13F +1,018CVNA-0.98% 13F +794TPL-0.71% 13F +444NET+4.32% 13F +710MSTR+17.56% 13F +526DELL+4.91% 13F +1,203CRWD+5.68% 13F +1,382ANET+1.22% 13F +1,323COIN+10.14% 13F +475

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CMRC

Name: Commerce.com, Inc. (CMRC) insider trading and ownership data
Creator: WaveMan
License: https://wave-man.com/terms

Commerce.com, Inc.

SOFTWARE & IT · SERVICES-PREPACKAGED SOFTWARE · CIK 0001626450

ACTIVIST 13DFORM 144 · 2☆ WATCH

INSIDER NET · 180D

-$26.2K

open-market buys minus sells, Form 4 codes P and S

INSIDER BUYERS · 180D

CONGRESS BUYERS · 1Y

FUNDS ADDED · QTR

13F, latest reported quarter

REVENUE GROWTH

+2.8%

XBRL, annual

NET MARGIN

-5.6%

SEVEN FACTS, RANKED AGAINST THE SECTOR · RANK IS NOT A FORECAST

INSIDERS

net -$26.2K over 180 days

-$6.3K over 90 days

more than 71% of Software & IT

CONGRESS

no member of Congress has reported trading it

FUNDS

90 funds added or opened last quarter

below 51% of Software & IT

REVENUE

+2.8% year over year

below 62% of Software & IT

MARGIN

-5.6% net margin

below 57% of Software & IT

BUYBACKS

no share repurchases reported

SHORT

7.6% of shares outstanding short · 11.3 days to cover · settled 2026-07-31

more than 79% of Software & IT

THE SITUATION · EVERY LINE IS ONE RULE OVER ONE DATASET

90 funds added or opened positions in the latest 13F quarter, of 156 holders.

Pale Fire Capital SICAV a.s. disclosed a 5%+ stake (6.5%) in the last six months.

The year, with the filings on it

Total return indexed to 100 over the last 12 months · every marker is a federal filing, placed at its date — hover any marker for the detail

TOTAL 12M RETURN -44.2%

-44.2%12M

INSIDER BUYINSIDER SELL13D/G STAKEFORM 144

INDEXED RETURN, DIVIDEND-ADJUSTED — NOT A PRICE CHART · LARGE TRADES DRAWN FIRST WHEN A NAME FILES HEAVILY

Live price

Daily candles from TradingView, on their licence — no filings are marked on this one

WHY THIS NAME IS ON THE DESK

An activist crossed the 5% line with declared intent.

The record shows a net $26.2K sold by insiders over 180 days, 90 funds added last quarter, $6.3K in planned Form 144 sales. Every figure is a federal filing, dated the day it became public.

Backtest this pattern Open the screener

Same sector, ranked by filing activity

Sector from the SEC's own SIC classification

TEAM META CRWV CRM NET CRWD DDOG DASH APP IOT PCTY MDB

Insider transactions

Form 4 purchases and sales (codes P and S) — grants, option exercises and preferred conversions excluded

Over the last 180 days, Commerce.com, Inc. insiders sold a net $26.2K of stock across 5 Form 4 purchases and sales, with 0 insider(s) buying. Source: SEC Form 4 filings, as of 2026-09-05.

INSIDER

FILED

VALUE

Lentz Daniel

CFO & COO

SELL

2026-08-24

797.0

$1.8K

Lentz Daniel

CFO & COO

SELL

2026-07-01

1,544.0

$4.6K

Lentz Daniel

CFO & COO

SELL

2026-05-26

6,840.0

$19.9K

Siminoff Ellen F

Executive Chair

BUY

2026-02-17

100,000.0

$294.0K

Klein Russell Scott

Chief Commercial Officer

SELL

2025-09-12

98,080.0

$450.2K

5 TRANSACTIONS ON RECORD · THIN RECORD, READ IT AS SUCH

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Institutional holders

13F · holdings as of the latest quarter funds have reported

Lynrock Lake LP

9,266,666.0 sh

$27.4M

BlackRock, Inc.

5,520,205.0 sh

$16.3M

VANGUARD PORTFOLIO MANAGEMENT LLC

4,724,240.0 sh

$14.0M

Divisar Capital Management LLC

3,142,845.0 sh

$9.3M

Pale Fire Capital SE

3,054,890.0 sh

$9.0M

5%+ owners

13D = intent to influence · 13G = passive

Pale Fire Capital SICAV a.s.

ACTIVIST 13D · 2026-08-27

6.5%

Pale Fire Capital investicni spolecnost a.s.

ACTIVIST 13D · 2026-08-27

6.5%

Pale Fire Capital SE

ACTIVIST 13D · 2026-08-27

6.5%

Barta Jan

ACTIVIST 13D · 2026-08-27

6.5%

Senkypl Dusan

ACTIVIST 13D · 2026-08-27

6.5%

Planned sales · Form 144

Filed before the sale — intent, not a trade

DANIEL LENTZ

FILED 2026-08-24

$1.8K

DANIEL LENTZ

FILED 2026-07-01

$4.6K

Fund concentration

N-PORT · funds ranked by how much of THEMSELVES they put in this stock — the conviction number 13F cannot show

Ultra-Small Company Fund

$267.0K POSITION · AS OF 2026-03-31

0.3%

VANGUARD MARKET NEUTRAL FUND

$1.3M POSITION · AS OF 2026-03-31

0.3%

Needham Small Cap Growth Fund

$507.3K POSITION · AS OF 2026-03-31

0.3%

Global X E-commerce ETF

$73.9K POSITION · AS OF 2026-04-30

0.3%

Ultra-Small Company Market Fund

$267.0K POSITION · AS OF 2026-03-31

0.2%

Columbia Variable Portfolio - Small Cap Value Fund

$676.7K POSITION · AS OF 2026-03-31

0.2%

SEC N-PORT, MONTHLY WITH A ~60-DAY PUBLIC LAG · FUNDS ≥ $10M · % = SHARE OF THE FUND'S OWN BOOK

Fundamentals

Annual figures from XBRL filings · pick a past date to see them exactly as the market knew them then — restatements and all

	2025-12	2024-12	2023-12	2022-12
REVENUE	$342.3M	$332.9M	$309.4M	$279.1M
GROSS PROFIT	$269.6M	$255.3M	$235.2M	$209.1M
OPERATING INCOME	$-16.2M	$-41.7M	$-72.4M	$-140.6M
NET INCOME	$-19.3M	$-27.0M	$-64.7M	$-139.9M
EPS (DILUTED)	-0.24	-0.35	-0.86	-1.91
OPERATING CASH FLOW	$25.5M	$26.3M	$-24.2M	$-89.4M
CASH	$44.3M	$88.9M	$71.7M	$91.6M
LONG-TERM DEBT	$157.0M	$216.5M	$339.5M	$337.5M

SEC XBRL · FISCAL-YEAR PERIODS · AS KNOWN ON 2026-09-05 · NOBODY ELSE SHOWS FUNDAMENTALS AS OF A PAST DATE