Essex Investment Management Co. LLC cut its stake in shares of ChannelAdvisor Corp. (NYSE:ECOM) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,011 shares of the company’s stock after selling 550 shares during the period. Essex Investment Management Co. LLC’s holdings in ChannelAdvisor Corp. were worth $725,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of ECOM. Royal Bank of Canada increased its position in shares of ChannelAdvisor Corp. by 2.8% in the first quarter. Royal Bank of Canada now owns 12,054 shares of the company’s stock valued at $136,000 after buying an additional 328 shares during the period. Mizuho Securities USA Inc. bought a new position in shares of ChannelAdvisor Corp. during the second quarter valued at about $145,000. A.R.T. Advisors LLC increased its position in shares of ChannelAdvisor Corp. by 12.5% in the first quarter. A.R.T. Advisors LLC now owns 68,209 shares of the company’s stock valued at $767,000 after buying an additional 7,600 shares during the period. Geode Capital Management LLC increased its position in shares of ChannelAdvisor Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 151,321 shares of the company’s stock valued at $1,702,000 after buying an additional 1,591 shares during the period. Finally, State Street Corp increased its position in shares of ChannelAdvisor Corp. by 4.7% in the first quarter. State Street Corp now owns 318,422 shares of the company’s stock valued at $3,582,000 after buying an additional 14,436 shares during the period. Institutional investors own 83.87% of the company’s stock.
Shares of ChannelAdvisor Corp. (NYSE:ECOM) traded down 1.17% during mid-day trading on Wednesday, reaching $12.68. The company’s stock had a trading volume of 67,385 shares. The company has a 50-day moving average of $12.38 and a 200-day moving average of $13.04. The firm’s market cap is $325.83 million. ChannelAdvisor Corp. has a 12 month low of $8.71 and a 12 month high of $15.91.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.03. ChannelAdvisor Corp. had a negative return on equity of 19.19% and a negative net margin of 15.63%. The company had revenue of $27.10 million for the quarter, compared to analysts’ expectations of $26.99 million. During the same quarter last year, the business earned ($0.10) earnings per share. ChannelAdvisor Corp.’s revenue was up 12.0% on a year-over-year basis. On average, analysts predict that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current year.
ECOM has been the topic of several research reports. Zacks Investment Research upgraded shares of ChannelAdvisor Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, August 11th. Needham & Company LLC started coverage on ChannelAdvisor Corp. in a report on Friday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Pacific Crest reissued a “hold” rating on shares of ChannelAdvisor Corp. in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.50.
In related news, insider M Scot Wingo sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $12.19, for a total value of $731,400.00. Following the sale, the insider now directly owns 1,030,505 shares of the company’s stock, valued at $12,561,855.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Cook acquired 10,000 shares of ChannelAdvisor Corp. stock in a transaction that occurred on Tuesday, August 23rd. The stock was acquired at an average cost of $12.26 per share, for a total transaction of $122,600.00. Following the completion of the purchase, the chief financial officer now directly owns 100,529 shares of the company’s stock, valued at $1,232,485.54. The disclosure for this purchase can be found here. 11.60% of the stock is owned by corporate insiders.
ChannelAdvisor Corp. Company Profile
ChannelAdvisor Corporation is a provider of software as a service (SaaS) solutions. The Company’s SaaS solutions enable its retailer and manufacturer customers to integrate and manage their merchandise sales across various online channels. Through its platform, the Company enables its customers to connect with various sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg and Sears, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and other channels, such as Facebook and Pinterest.
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