Walleye Capital LLC Purchases New Position in ChannelAdvisor Co. (NYSE:ECOM)

Walleye Capital LLC purchased a new stake in ChannelAdvisor Co. (NYSE:ECOMGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,093 shares of the software maker’s stock, valued at approximately $278,000.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in 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 in the last quarter. Royce & Associates LP boosted its stake in ChannelAdvisor by 84.3% in the first quarter. Royce & Associates LP now owns 803,768 shares of the software maker’s stock worth $13,318,000 after purchasing an additional 367,604 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in ChannelAdvisor by 32.1% in the first quarter. The Manufacturers Life Insurance Company now owns 820,868 shares of the software maker’s stock worth $13,602,000 after purchasing an additional 199,235 shares in the last quarter. Lapides Asset Management LLC boosted its stake in ChannelAdvisor by 104.1% in the second quarter. Lapides Asset Management LLC now owns 371,300 shares of the software maker’s stock worth $5,414,000 after purchasing an additional 189,400 shares in the last quarter. Finally, Potrero Capital Research LLC boosted its stake in ChannelAdvisor by 118.2% in the first quarter. Potrero Capital Research LLC now owns 338,118 shares of the software maker’s stock worth $5,603,000 after purchasing an additional 183,174 shares in the last quarter. Institutional investors and hedge funds own 94.31% of the company’s stock.

Insider Activity at ChannelAdvisor

In other ChannelAdvisor news, Director M Scot Wingo sold 3,250 shares of the stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $22.79, for a total value of $74,067.50. Following the completion of the sale, the director now directly owns 24,751 shares in the company, valued at $564,075.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 9,750 shares of company stock worth $198,673. 4.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ECOM has been the topic of a number of recent analyst reports. Needham & Company LLC lowered ChannelAdvisor from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Robert W. Baird upped their price target on ChannelAdvisor from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, September 7th. William Blair lowered ChannelAdvisor from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 6th. DA Davidson lowered ChannelAdvisor from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 7th. Finally, B. Riley lowered ChannelAdvisor from a “buy” rating to a “neutral” rating and set a $23.10 price target on the stock. in a research note on Wednesday, September 7th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.03.

ChannelAdvisor Stock Performance

NYSE ECOM opened at $23.09 on Friday. The stock has a 50-day simple moving average of $22.90 and a 200 day simple moving average of $17.62. The company has a market capitalization of $667.76 million, a PE ratio of 19.57 and a beta of 0.39. ChannelAdvisor Co. has a 12 month low of $11.89 and a 12 month high of $27.69.

ChannelAdvisor 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.

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Institutional Ownership by Quarter for ChannelAdvisor (NYSE:ECOM)

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