ChannelAdvisor Corporation (NYSE:ECOM) Director Joseph L. Cowan bought 3,130 shares of the stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $8.58 per share, for a total transaction of $26,855.40. Following the completion of the purchase, the director now directly owns 22,803 shares in the company, valued at $195,649.74. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of ChannelAdvisor Corporation (ECOM) traded up $0.05 during trading on Wednesday, reaching $8.60. The company had a trading volume of 142,800 shares, compared to its average volume of 93,591. ChannelAdvisor Corporation has a fifty-two week low of $8.30 and a fifty-two week high of $15.85. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.
ChannelAdvisor Corporation (NYSE:ECOM) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. ChannelAdvisor Corporation had a negative return on equity of 9.48% and a negative net margin of 8.54%. The firm had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $30.08 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. sell-side analysts forecast that ChannelAdvisor Corporation will post -0.58 EPS for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of ChannelAdvisor Corporation by 2.4% during the second quarter. Wells Fargo & Company MN now owns 19,111 shares of the software maker’s stock valued at $220,000 after buying an additional 446 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of ChannelAdvisor Corporation by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 97,489 shares of the software maker’s stock valued at $1,126,000 after buying an additional 646 shares during the period. American International Group Inc. increased its position in shares of ChannelAdvisor Corporation by 7.1% during the first quarter. American International Group Inc. now owns 14,290 shares of the software maker’s stock valued at $159,000 after buying an additional 946 shares during the period. Rhumbline Advisers increased its position in shares of ChannelAdvisor Corporation by 8.5% during the second quarter. Rhumbline Advisers now owns 27,908 shares of the software maker’s stock valued at $322,000 after buying an additional 2,195 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of ChannelAdvisor Corporation by 15.4% during the second quarter. The Manufacturers Life Insurance Company now owns 20,982 shares of the software maker’s stock valued at $242,000 after buying an additional 2,794 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.
A number of equities research analysts have recently commented on the company. BidaskClub cut ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Stifel Nicolaus restated a “buy” rating and issued a $13.00 price objective on shares of ChannelAdvisor Corporation in a research note on Friday, November 3rd. DA Davidson initiated coverage on ChannelAdvisor Corporation in a research note on Friday, September 22nd. They issued a “neutral” rating and a $12.50 price objective on the stock. KeyCorp restated a “hold” rating on shares of ChannelAdvisor Corporation in a research note on Friday, August 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of ChannelAdvisor Corporation in a research note on Sunday, September 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. ChannelAdvisor Corporation presently has a consensus rating of “Hold” and a consensus target price of $14.13.
About ChannelAdvisor Corporation
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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