Lazard Asset Management LLC Increases Stock Position in ChannelAdvisor Co. (NYSE:ECOM)

Lazard Asset Management LLC increased its holdings in shares of ChannelAdvisor Co. (NYSE:ECOMGet Rating) by 66.5% in the second quarter, Holdings Channel reports. The firm owned 5,635 shares of the software maker’s stock after acquiring an additional 2,250 shares during the period. Lazard Asset Management LLC’s holdings in ChannelAdvisor were worth $82,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ECOM. Isthmus Partners LLC boosted its position in ChannelAdvisor by 110.8% during the 1st quarter. Isthmus Partners LLC now owns 89,712 shares of the software maker’s stock worth $1,487,000 after purchasing an additional 47,159 shares during the period. Royce & Associates LP boosted its position in ChannelAdvisor by 84.3% during the 1st 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 during the period. IndexIQ Advisors LLC boosted its position in ChannelAdvisor by 36.7% during the 1st quarter. IndexIQ Advisors LLC now owns 24,509 shares of the software maker’s stock worth $406,000 after purchasing an additional 6,577 shares during the period. Qube Research & Technologies Ltd boosted its position in ChannelAdvisor by 12.5% during the 1st quarter. Qube Research & Technologies Ltd now owns 15,971 shares of the software maker’s stock worth $265,000 after purchasing an additional 1,773 shares during the period. Finally, M&T Bank Corp boosted its position in ChannelAdvisor by 100.0% during the 1st quarter. M&T Bank Corp now owns 17,382 shares of the software maker’s stock worth $288,000 after purchasing an additional 8,691 shares during the period. 94.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC cut shares of ChannelAdvisor from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. StockNews.com started coverage on shares of ChannelAdvisor in a research report on Wednesday. They issued a “hold” rating for the company. William Blair cut shares of ChannelAdvisor from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 6th. B. Riley cut shares of ChannelAdvisor from a “buy” rating to a “neutral” rating and set a $23.10 price objective for the company. in a research report on Wednesday, September 7th. Finally, Robert W. Baird upped their price objective on shares of ChannelAdvisor from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, ChannelAdvisor currently has an average rating of “Hold” and an average target price of $24.03.

Insider Activity

In other news, Director M Scot Wingo sold 3,250 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $22.79, for a total value of $74,067.50. Following the sale, the director now owns 24,751 shares in the company, valued at approximately $564,075.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.

ChannelAdvisor Stock Performance

Shares of ChannelAdvisor stock opened at $23.09 on Thursday. The firm has a market cap of $667.67 million, a PE ratio of 19.57 and a beta of 0.39. The firm’s 50-day simple moving average is $22.91 and its 200-day simple moving average is $17.81. ChannelAdvisor Co. has a 1 year low of $11.89 and a 1 year 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.

See Also

Want to see what other hedge funds are holding ECOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChannelAdvisor Co. (NYSE:ECOMGet Rating).

Institutional Ownership by Quarter for ChannelAdvisor (NYSE:ECOM)

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