Renaissance Technologies LLC raised its position in ChannelAdvisor Corporation (NYSE:ECOM) by 87.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,076 shares of the software maker’s stock after buying an additional 111,276 shares during the period. Renaissance Technologies LLC owned about 0.92% of ChannelAdvisor Corporation worth $2,655,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in ChannelAdvisor Corporation during the first quarter worth $136,000. First Manhattan Co. purchased a new stake in ChannelAdvisor Corporation during the first quarter worth $168,000. Acadian Asset Management LLC increased its stake in ChannelAdvisor Corporation by 79.9% in the first quarter. Acadian Asset Management LLC now owns 13,259 shares of the software maker’s stock worth $148,000 after buying an additional 5,890 shares during the period. American International Group Inc. increased its stake in ChannelAdvisor Corporation by 7.1% in the first quarter. American International Group Inc. now owns 14,290 shares of the software maker’s stock worth $159,000 after buying an additional 946 shares during the period. Finally, Trexquant Investment LP purchased a new stake in ChannelAdvisor Corporation during the first quarter worth $214,000. Institutional investors and hedge funds own 80.12% of the company’s stock.
ChannelAdvisor Corporation (NYSE ECOM) traded down 1.41% during midday trading on Tuesday, reaching $10.50. The company had a trading volume of 2,803 shares. ChannelAdvisor Corporation has a one year low of $9.85 and a one year high of $15.85. The firm’s market capitalization is $277.53 million. The stock’s 50 day moving average price is $10.92 and its 200-day moving average price is $11.38.
ChannelAdvisor Corporation (NYSE:ECOM) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. The company had revenue of $30 million during the quarter, compared to the consensus estimate of $28.65 million. ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) earnings per share. On average, equities research analysts anticipate that ChannelAdvisor Corporation will post ($0.02) earnings per share for the current year.
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A number of equities research analysts recently weighed in on the company. William Blair reissued a “market perform” rating on shares of ChannelAdvisor Corporation in a research report on Thursday, May 4th. BidaskClub downgraded ChannelAdvisor Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. ValuEngine downgraded ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded ChannelAdvisor Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Robert W. Baird reissued a “neutral” rating on shares of ChannelAdvisor Corporation in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.50.
In other ChannelAdvisor Corporation news, insider M Scot Wingo sold 15,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $11.57, for a total value of $173,550.00. Following the transaction, the insider now directly owns 867,896 shares of the company’s stock, valued at approximately $10,041,556.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Huffman purchased 10,000 shares of the stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director now owns 36,411 shares in the company, valued at $364,110. The disclosure for this purchase can be found here. Over the last three months, insiders sold 45,000 shares of company stock worth $509,550. Insiders own 11.30% of the company’s stock.
ChannelAdvisor Corporation Company Profile
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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