ChannelAdvisor (NYSE:ECOM) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of ChannelAdvisor (NYSE:ECOMGet Rating) in a research note issued to investors on Wednesday. The firm issued a hold rating on the software maker’s stock.

A number of other equities research analysts have also weighed in on ECOM. William Blair lowered shares of ChannelAdvisor from an outperform rating to a market perform rating in a report on Tuesday, September 6th. DA Davidson lowered shares of ChannelAdvisor from a buy rating to a neutral rating in a report on Wednesday, September 7th. Needham & Company LLC lowered shares of ChannelAdvisor from a buy rating to a hold rating in a report on Tuesday, September 6th. Robert W. Baird boosted their price objective on shares of ChannelAdvisor from $17.00 to $23.00 and gave the stock a neutral rating in a report on Wednesday, September 7th. Finally, B. Riley lowered shares of ChannelAdvisor from a buy rating to a neutral rating and set a $23.10 price objective for the company. in a report on Wednesday, September 7th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $24.03.

ChannelAdvisor Price Performance

Shares of ChannelAdvisor stock opened at $23.09 on Wednesday. The firm has a market cap of $667.67 million, a PE ratio of 19.57 and a beta of 0.39. ChannelAdvisor has a 1 year low of $11.89 and a 1 year high of $27.69. The company has a 50 day simple moving average of $22.91 and a two-hundred day simple moving average of $17.81.

Insider Activity at ChannelAdvisor

In related news, Director M Scot Wingo sold 3,250 shares of the company’s stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $22.99, for a total transaction of $74,717.50. Following the completion of the sale, the director now directly owns 21,501 shares in the company, valued at approximately $494,307.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in ChannelAdvisor by 3.6% during the 1st quarter. BlackRock Inc. now owns 2,110,144 shares of the software maker’s stock valued at $34,966,000 after purchasing an additional 73,407 shares during the period. Vanguard Group Inc. increased its position in ChannelAdvisor by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,064,889 shares of the software maker’s stock valued at $34,215,000 after purchasing an additional 6,426 shares during the period. Wellington Management Group LLP increased its position in ChannelAdvisor by 62.7% during the 1st quarter. Wellington Management Group LLP now owns 1,610,841 shares of the software maker’s stock valued at $26,692,000 after purchasing an additional 620,955 shares during the period. Water Island Capital LLC purchased a new position in ChannelAdvisor during the 3rd quarter valued at $24,802,000. Finally, Disciplined Growth Investors Inc. MN increased its position in ChannelAdvisor by 2.6% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,012,994 shares of the software maker’s stock valued at $16,785,000 after purchasing an additional 25,752 shares during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.

ChannelAdvisor Company Profile

(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.

See Also

Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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