ChannelAdvisor Corp Trading Down 2% Following Insider Selling (ECOM)
ChannelAdvisor Corp (NASDAQ:ECOM)’s share price fell 2% during trading on Monday after an insider sold shares in the company, Stock Ratings Network.com reports. The stock traded as low as $15.75 and last traded at $15.92, with a volume of 275,593 shares traded. The stock had previously closed at $16.24.
Specifically, Director Robert Hower unloaded 135,789 shares of ChannelAdvisor Corp stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $16.46, for a total transaction of $2,235,086.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of ChannelAdvisor Corp in a research note on Tuesday, August 5th. They now have a $28.00 price target on the stock, down previously from $32.00. Separately, analysts at Stifel Nicolaus cut their price target on shares of ChannelAdvisor Corp from $40.00 to $30.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of ChannelAdvisor Corp from $31.00 to $23.00 in a research note on Tuesday, August 5th. They now have a “market perform” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $33.89.
The stock has a 50-day moving average of $22.66 and a 200-day moving average of $30.4. The company’s market cap is $393.0 million.
ChannelAdvisor Corp (NASDAQ:ECOM) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.30) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.31) by $0.01. The company had revenue of $20.80 million for the quarter, compared to the consensus estimate of $20.00 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. Analysts expect that ChannelAdvisor Corp will post $-1.03 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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