Acadian Asset Management LLC lifted its position in ChannelAdvisor Corp (NYSE:ECOM) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,115 shares of the software maker’s stock after acquiring an additional 40,764 shares during the quarter. Acadian Asset Management LLC owned 0.46% of ChannelAdvisor worth $1,571,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of ChannelAdvisor by 9.3% in the 2nd quarter. BlackRock Inc. now owns 1,696,552 shares of the software maker’s stock worth $23,837,000 after acquiring an additional 144,646 shares in the last quarter. Northern Trust Corp grew its position in shares of ChannelAdvisor by 2.1% in the 2nd quarter. Northern Trust Corp now owns 320,067 shares of the software maker’s stock worth $4,497,000 after acquiring an additional 6,441 shares in the last quarter. Millennium Management LLC grew its position in shares of ChannelAdvisor by 157.0% in the 2nd quarter. Millennium Management LLC now owns 275,386 shares of the software maker’s stock worth $3,869,000 after acquiring an additional 168,252 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of ChannelAdvisor by 23.6% in the 2nd quarter. Renaissance Technologies LLC now owns 264,000 shares of the software maker’s stock worth $3,709,000 after acquiring an additional 50,400 shares in the last quarter. Finally, Spark Investment Management LLC grew its position in shares of ChannelAdvisor by 26.1% in the 2nd quarter. Spark Investment Management LLC now owns 181,700 shares of the software maker’s stock worth $2,552,000 after acquiring an additional 37,600 shares in the last quarter. Institutional investors own 74.60% of the company’s stock.
In other news, insider M Scot Wingo sold 7,800 shares of the business’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $13.57, for a total value of $105,846.00. Following the sale, the insider now owns 652,907 shares of the company’s stock, valued at approximately $8,859,947.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is currently owned by insiders.
ChannelAdvisor (NYSE:ECOM) last announced its earnings results on Thursday, November 8th. The software maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.06. The firm had revenue of $32.30 million for the quarter, compared to the consensus estimate of $31.64 million. ChannelAdvisor had a negative return on equity of 10.13% and a negative net margin of 6.64%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) EPS. On average, research analysts expect that ChannelAdvisor Corp will post -0.34 earnings per share for the current fiscal year.
Several analysts recently issued reports on ECOM shares. Zacks Investment Research downgraded ChannelAdvisor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine downgraded ChannelAdvisor from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Needham & Company LLC raised their price target on ChannelAdvisor from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, B. Riley set a $18.00 price target on ChannelAdvisor and gave the stock a “buy” rating in a report on Friday, August 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $17.71.
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ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps retailers and branded manufacturers to improve their online performance by expanding sales channels, connecting with consumers around the world, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.
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