RK Capital Management LLC purchased a new stake in shares of CommerceHub, Inc. (NASDAQ:CHUBA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 313,419 shares of the technology company’s stock, valued at approximately $7,074,000. RK Capital Management LLC owned approximately 0.72% of CommerceHub as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its stake in CommerceHub by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 55,214 shares of the technology company’s stock valued at $1,247,000 after buying an additional 2,906 shares during the last quarter. Nationwide Fund Advisors purchased a new position in CommerceHub during the second quarter valued at $137,000. First Quadrant L P CA purchased a new position in CommerceHub during the second quarter valued at $154,000. Wells Fargo & Company MN raised its stake in CommerceHub by 19.9% during the third quarter. Wells Fargo & Company MN now owns 55,684 shares of the technology company’s stock valued at $1,257,000 after buying an additional 9,237 shares during the last quarter. Finally, Hosking Partners LLP purchased a new position in CommerceHub during the third quarter valued at $217,000. Institutional investors own 29.02% of the company’s stock.
Several research analysts have recently weighed in on the company. Dougherty & Co assumed coverage on CommerceHub in a research note on Tuesday, October 31st. They issued a “buy” rating and a $27.00 price target for the company. Wedbush restated an “outperform” rating and issued a $26.00 price target (up previously from $22.00) on shares of CommerceHub in a research note on Monday, October 2nd. Zacks Investment Research upgraded CommerceHub from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Monday, August 7th. DA Davidson assumed coverage on CommerceHub in a research note on Friday, September 22nd. They issued a “buy” rating and a $27.00 price target for the company. Finally, First Analysis assumed coverage on CommerceHub in a research note on Friday, August 25th. They issued an “overweight” rating and a $25.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CommerceHub has a consensus rating of “Buy” and a consensus price target of $25.80.
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CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.
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