ChannelAdvisor Corporation (ECOM) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its stake in ChannelAdvisor Corporation (NYSE:ECOM) by 17.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,093 shares of the software maker’s stock after purchasing an additional 5,915 shares during the period. Goldman Sachs Group Inc. owned approximately 0.15% of ChannelAdvisor Corporation worth $452,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Shapiro Capital Management LLC increased its position in shares of ChannelAdvisor Corporation by 0.6% in the second quarter. Shapiro Capital Management LLC now owns 3,779,475 shares of the software maker’s stock worth $43,653,000 after purchasing an additional 22,458 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ChannelAdvisor Corporation by 5.8% in the second quarter. Vanguard Group Inc. now owns 1,055,788 shares of the software maker’s stock worth $12,194,000 after purchasing an additional 57,863 shares during the last quarter. Archon Capital Management LLC increased its position in shares of ChannelAdvisor Corporation by 42.5% in the second quarter. Archon Capital Management LLC now owns 588,510 shares of the software maker’s stock worth $6,797,000 after purchasing an additional 175,467 shares during the last quarter. Northern Trust Corp increased its position in shares of ChannelAdvisor Corporation by 14.8% in the second quarter. Northern Trust Corp now owns 421,849 shares of the software maker’s stock worth $4,872,000 after purchasing an additional 54,473 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of ChannelAdvisor Corporation by 87.8% in the first quarter. Renaissance Technologies LLC now owns 238,076 shares of the software maker’s stock worth $2,655,000 after purchasing an additional 111,276 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.
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Several research firms recently weighed in on ECOM. BidaskClub upgraded shares of ChannelAdvisor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of ChannelAdvisor Corporation in a research report on Sunday, September 17th. DA Davidson assumed coverage on ChannelAdvisor Corporation in a research note on Friday, September 22nd. They issued a “neutral” rating and a $12.50 target price for the company. Finally, First Analysis raised ChannelAdvisor Corporation from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.13.
In other news, insider M Scot Wingo sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $10.41, for a total transaction of $156,150.00. Following the completion of the sale, the insider now owns 837,896 shares of the company’s stock, valued at $8,722,497.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Cook acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average cost of $8.80 per share, with a total value of $88,000.00. Following the purchase, the chief financial officer now owns 153,445 shares of the company’s stock, valued at approximately $1,350,316. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 45,000 shares of company stock valued at $512,550. 11.30% of the stock is owned by insiders.
Shares of ChannelAdvisor Corporation (NYSE ECOM) opened at $8.50 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.01. ChannelAdvisor Corporation has a 52 week low of $8.45 and a 52 week high of $15.85.
ChannelAdvisor Corporation (NYSE:ECOM) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The business had revenue of $30.10 million during the quarter, compared to analyst estimates of $30.08 million. ChannelAdvisor Corporation had a negative return on equity of 9.48% and a negative net margin of 8.54%. ChannelAdvisor Corporation’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. equities analysts predict that ChannelAdvisor Corporation will post -0.58 EPS for the current fiscal year.
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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