Prudential Financial Inc. Takes $118,000 Position in ChannelAdvisor Corp (ECOM)

Prudential Financial Inc. bought a new position in shares of ChannelAdvisor Corp (NYSE:ECOM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,290 shares of the software maker’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Shapiro Capital Management LLC boosted its stake in ChannelAdvisor by 0.6% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,779,475 shares of the software maker’s stock valued at $43,653,000 after purchasing an additional 22,458 shares during the period. Janus Henderson Group PLC bought a new stake in ChannelAdvisor in the 2nd quarter valued at $26,368,000. Vanguard Group Inc. boosted its stake in ChannelAdvisor by 5.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,055,788 shares of the software maker’s stock valued at $12,194,000 after purchasing an additional 57,863 shares during the period. Emerald Advisers Inc. PA boosted its stake in ChannelAdvisor by 10.0% in the 3rd quarter. Emerald Advisers Inc. PA now owns 726,017 shares of the software maker’s stock valued at $8,349,000 after purchasing an additional 66,082 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its stake in ChannelAdvisor by 214.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 639,982 shares of the software maker’s stock valued at $7,392,000 after purchasing an additional 436,618 shares during the period. Institutional investors own 81.72% of the company’s stock.

ChannelAdvisor Corp (ECOM) opened at $8.90 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.94. ChannelAdvisor Corp has a fifty-two week low of $8.30 and a fifty-two week high of $15.85.

ChannelAdvisor (NYSE:ECOM) last announced its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The firm had revenue of $30.10 million during the quarter, compared to analysts’ expectations of $30.08 million. ChannelAdvisor had a negative return on equity of 9.48% and a negative net margin of 8.54%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) EPS. research analysts anticipate that ChannelAdvisor Corp will post -0.58 EPS for the current fiscal year.

In other ChannelAdvisor news, Director Joseph L. Cowan purchased 3,130 shares of the stock in a transaction dated Friday, November 10th. The stock was bought at an average price of $8.58 per share, with a total value of $26,855.40. Following the acquisition, the director now owns 22,803 shares of the company’s stock, valued at $195,649.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Cook purchased 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $8.80 per share, with a total value of $88,000.00. Following the acquisition, the chief financial officer now directly owns 153,445 shares in the company, valued at approximately $1,350,316. The disclosure for this purchase can be found here. Insiders acquired a total of 30,000 shares of company stock valued at $257,913 over the last ninety days. Insiders own 11.30% of the company’s stock.

Several analysts recently issued reports on the company. BidaskClub upgraded ChannelAdvisor from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. DA Davidson assumed coverage on ChannelAdvisor in a research note on Friday, September 22nd. They issued a “neutral” rating and a $12.50 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of ChannelAdvisor in a research note on Sunday, September 17th. KeyCorp restated a “hold” rating on shares of ChannelAdvisor in a research note on Friday, August 25th. Finally, First Analysis raised ChannelAdvisor from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.13.

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ChannelAdvisor 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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Institutional Ownership by Quarter for ChannelAdvisor (NYSE:ECOM)

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