Insider Selling: David J. Spitz Unloads 37,500 Shares of ChannelAdvisor Corp Stock (ECOM)
ChannelAdvisor Corp (NASDAQ:ECOM) COO David J. Spitz sold 37,500 shares of the stock on the open market in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $26.75, for a total value of $1,003,125.00. Following the completion of the sale, the chief operating officer now directly owns 116,144 shares of the company’s stock, valued at approximately $3,106,852. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs cut their price target on shares of ChannelAdvisor Corp from $38.00 to $30.00 in a research note on Thursday, May 22nd. Separately, analysts at Canaccord Genuity set a $35.00 price target on shares of ChannelAdvisor Corp in a research note on Tuesday, May 6th. Finally, analysts at Raymond James cut their price target on shares of ChannelAdvisor Corp from $45.00 to $35.00 in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. ChannelAdvisor Corp presently has an average rating of “Buy” and a consensus price target of $35.20.
Shares of ChannelAdvisor Corp (NASDAQ:ECOM) traded down 0.35% during mid-day trading on Thursday, hitting $25.90. The stock had a trading volume of 124,111 shares. ChannelAdvisor Corp has a 52 week low of $15.16 and a 52 week high of $49.90. The stock has a 50-day moving average of $22.49 and a 200-day moving average of $34.5. The company’s market cap is $636.5 million.
ChannelAdvisor Corp (NASDAQ:ECOM) last released its earnings data on Monday, May 5th. The company reported ($0.36) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.37) by $0.01. The company had revenue of $19.00 million for the quarter, compared to the consensus estimate of $18.97 million. The company’s quarterly revenue was up 29.5% on a year-over-year basis. Analysts expect that ChannelAdvisor Corp will post $-1.00 EPS for the current fiscal year.
Channeladvisor Corporation is a provider of software-as-a-service, or SaaS, solutions that enables retailers and manufacturer customers to integrate, manage and optimize their merchandise sales across hundreds of online channels.
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