Schwab Charles Investment Management Inc. lifted its position in shares of ChannelAdvisor Corp (NYSE:ECOM) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,146 shares of the software maker’s stock after acquiring an additional 31,510 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.49% of ChannelAdvisor worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in ChannelAdvisor by 113.5% in the 1st quarter. Russell Investments Group Ltd. now owns 12,990 shares of the software maker’s stock worth $118,000 after purchasing an additional 6,905 shares during the period. Engineers Gate Manager LP bought a new stake in ChannelAdvisor in the 2nd quarter worth approximately $166,000. Strs Ohio bought a new stake in ChannelAdvisor in the 2nd quarter worth approximately $331,000. Rhumbline Advisers grew its position in ChannelAdvisor by 40.4% in the 2nd quarter. Rhumbline Advisers now owns 32,176 shares of the software maker’s stock worth $452,000 after purchasing an additional 9,262 shares during the period. Finally, EAM Investors LLC bought a new stake in ChannelAdvisor in the 2nd quarter worth approximately $738,000. 73.12% of the stock is owned by institutional investors.
Shares of ECOM stock opened at $12.21 on Friday. ChannelAdvisor Corp has a 1 year low of $8.30 and a 1 year high of $15.63. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.02. The firm has a market cap of $339.67 million, a PE ratio of -23.04 and a beta of 0.20.
ChannelAdvisor (NYSE:ECOM) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). ChannelAdvisor had a negative net margin of 8.13% and a negative return on equity of 12.48%. The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $31.46 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that ChannelAdvisor Corp will post -0.34 earnings per share for the current fiscal year.
In other news, insider M Scot Wingo sold 7,800 shares of the business’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of $13.57, for a total transaction of $105,846.00. Following the completion of the sale, the insider now owns 652,907 shares of the company’s stock, valued at approximately $8,859,947.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.80% of the company’s stock.
A number of research firms have commented on ECOM. Zacks Investment Research downgraded shares of ChannelAdvisor from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine raised shares of ChannelAdvisor from a “hold” rating to a “buy” rating in a research report on Monday, October 8th. B. Riley began coverage on shares of ChannelAdvisor in a research report on Tuesday, June 26th. They issued a “buy” rating and a $17.50 target price for the company. Finally, Needham & Company LLC lifted their target price on shares of ChannelAdvisor from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.86.
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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