ChannelAdvisor (NYSE:ECOM) Downgraded by StockNews.com

ChannelAdvisor (NYSE:ECOMGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other research firms have also issued reports on ECOM. Needham & Company LLC dropped their price objective on ChannelAdvisor from $35.00 to $26.00 in a research note on Friday, February 11th. TheStreet lowered ChannelAdvisor from a “b” rating to a “c+” rating in a research note on Friday, March 11th. Zacks Investment Research raised ChannelAdvisor from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, B. Riley cut their price objective on ChannelAdvisor from $32.00 to $24.00 in a report on Monday, May 9th.

ECOM stock opened at $13.26 on Thursday. The stock has a market capitalization of $404.11 million, a P/E ratio of 9.61 and a beta of 0.88. The business has a 50-day moving average of $14.79 and a 200-day moving average of $19.47. ChannelAdvisor has a fifty-two week low of $11.89 and a fifty-two week high of $29.42.

In other ChannelAdvisor news, Director Timothy V. Williams sold 3,320 shares of ChannelAdvisor stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $18.13, for a total transaction of $60,191.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of ChannelAdvisor by 62.7% in the first quarter. Wellington Management Group LLP now owns 1,610,841 shares of the software maker’s stock worth $26,692,000 after purchasing an additional 620,955 shares during the period. Royce & Associates LP increased its stake in shares of ChannelAdvisor by 84.3% during the first quarter. Royce & Associates LP now owns 803,768 shares of the software maker’s stock valued at $13,318,000 after purchasing an additional 367,604 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of ChannelAdvisor by 32.1% during the first quarter. The Manufacturers Life Insurance Company now owns 820,868 shares of the software maker’s stock valued at $13,602,000 after purchasing an additional 199,235 shares in the last quarter. Potrero Capital Research LLC increased its stake in shares of ChannelAdvisor by 118.2% during the first quarter. Potrero Capital Research LLC now owns 338,118 shares of the software maker’s stock valued at $5,603,000 after purchasing an additional 183,174 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of ChannelAdvisor by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 1,442,984 shares of the software maker’s stock valued at $36,407,000 after acquiring an additional 167,523 shares in the last quarter. Hedge funds and other institutional investors own 86.08% of the company’s stock.

About ChannelAdvisor (Get Rating)

ChannelAdvisor Corporation, together with its subsidiaries, provides software-as-a-service (SaaS) solutions in the United States and internationally. The company's SaaS is a cloud platform that helps brands and retailers to improve their e-commerce operations, expand to new channels, and grow sales.

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