Prudential Financial Inc. trimmed its stake in shares of ChannelAdvisor Corp (NYSE:ECOM) by 40.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 10,820 shares of the software maker’s stock after selling 7,310 shares during the quarter. Prudential Financial Inc.’s holdings in ChannelAdvisor were worth $123,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of ChannelAdvisor in the fourth quarter valued at about $35,000. Jefferies Group LLC acquired a new stake in ChannelAdvisor during the third quarter worth approximately $135,000. Trexquant Investment LP acquired a new stake in ChannelAdvisor during the third quarter worth approximately $139,000. MetLife Investment Advisors LLC grew its stake in ChannelAdvisor by 68.3% during the third quarter. MetLife Investment Advisors LLC now owns 17,505 shares of the software maker’s stock worth $218,000 after purchasing an additional 7,102 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in ChannelAdvisor by 20.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 30,000 shares of the software maker’s stock worth $340,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.
Shares of NYSE:ECOM opened at $11.91 on Tuesday. ChannelAdvisor Corp has a 52-week low of $8.90 and a 52-week high of $15.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market capitalization of $341.08 million, a price-to-earnings ratio of -45.81 and a beta of 0.11.
Several equities research analysts recently commented on the company. Zacks Investment Research raised ChannelAdvisor from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, February 20th. ValuEngine raised ChannelAdvisor from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $18.67.
In related news, Chairman M Scot Wingo sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $12.34, for a total transaction of $185,100.00. Following the completion of the sale, the chairman now directly owns 585,331 shares of the company’s stock, valued at $7,222,984.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 66,583 shares of company stock valued at $835,596 over the last ninety days. 8.10% of the stock is currently owned by company insiders.
ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps brands and retailers 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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