JPMorgan Chase & Co. lowered its stake in ChannelAdvisor Corporation (NYSE:ECOM) by 2.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 28,712 shares of the software maker’s stock after selling 692 shares during the period. JPMorgan Chase & Co. owned 0.11% of ChannelAdvisor Corporation worth $320,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Alambic Investment Management L.P. purchased a new stake in ChannelAdvisor Corporation during the first quarter valued at about $258,000. Trexquant Investment LP purchased a new stake in ChannelAdvisor Corporation during the first quarter valued at about $214,000. Bank of New York Mellon Corp raised its stake in shares of ChannelAdvisor Corporation by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 138,500 shares of the software maker’s stock worth $1,544,000 after buying an additional 7,208 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of ChannelAdvisor Corporation during the first quarter worth $232,000. Finally, Acadian Asset Management LLC raised its stake in shares of ChannelAdvisor Corporation by 79.9% in the first quarter. Acadian Asset Management LLC now owns 13,259 shares of the software maker’s stock worth $148,000 after buying an additional 5,890 shares in the last quarter. 81.14% of the stock is currently owned by institutional investors.
ChannelAdvisor Corporation (NYSE ECOM) opened at 10.45 on Friday. The firm’s market capitalization is $276.20 million. ChannelAdvisor Corporation has a one year low of $9.85 and a one year high of $15.85. The stock’s 50 day moving average is $10.95 and its 200-day moving average is $11.46.
ChannelAdvisor Corporation (NYSE:ECOM) last announced its earnings results on Thursday, August 3rd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.05. ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The business had revenue of $30 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same quarter last year, the business earned ($0.11) EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that ChannelAdvisor Corporation will post ($0.02) EPS for the current fiscal year.
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A number of analysts have weighed in on ECOM shares. First Analysis lowered shares of ChannelAdvisor Corporation from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of ChannelAdvisor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, June 13th. TheStreet downgraded shares of ChannelAdvisor Corporation from a “c-” rating to a “d+” rating in a research note on Monday, June 5th. Robert W. Baird reaffirmed a “neutral” rating on shares of ChannelAdvisor Corporation in a research note on Monday, July 3rd. Finally, ValuEngine raised shares of ChannelAdvisor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. ChannelAdvisor Corporation has a consensus rating of “Hold” and a consensus target price of $15.50.
In other news, Director Marc Huffman acquired 10,000 shares of ChannelAdvisor Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $10.00 per share, with a total value of $100,000.00. Following the purchase, the director now owns 36,411 shares in the company, valued at $364,110. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider M Scot Wingo sold 15,000 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $11.57, for a total value of $173,550.00. Following the completion of the transaction, the insider now directly owns 867,896 shares of the company’s stock, valued at $10,041,556.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,000 shares of company stock valued at $509,550. 11.30% of the stock is owned by corporate insiders.
ChannelAdvisor Corporation Company Profile
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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