Voya Investment Management LLC Invests $136,000 in ChannelAdvisor Corporation (ECOM) Stock
Voya Investment Management LLC purchased a new position in ChannelAdvisor Corporation (NYSE:ECOM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,742 shares of the software maker’s stock, valued at approximately $136,000.
A number of other institutional investors have also bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in ChannelAdvisor Corporation by 2.4% in the second quarter. Wells Fargo & Company MN now owns 19,111 shares of the software maker’s stock worth $220,000 after purchasing an additional 446 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in ChannelAdvisor Corporation by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 97,489 shares of the software maker’s stock worth $1,126,000 after purchasing an additional 646 shares during the last quarter. American International Group Inc. lifted 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 purchasing an additional 946 shares during the last quarter. Rhumbline Advisers lifted its stake in ChannelAdvisor Corporation by 8.5% in the second quarter. Rhumbline Advisers now owns 27,908 shares of the software maker’s stock worth $322,000 after purchasing an additional 2,195 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in ChannelAdvisor Corporation by 166.6% in the second quarter. Citigroup Inc. now owns 10,818 shares of the software maker’s stock worth $125,000 after purchasing an additional 6,760 shares during the last quarter. 81.83% of the stock is owned by institutional investors and hedge funds.
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In related news, Director Joseph L. Cowan purchased 3,130 shares of ChannelAdvisor Corporation stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $8.58 per share, for a total transaction of $26,855.40. Following the completion of the transaction, the director now directly owns 22,803 shares of the company’s stock, valued at $195,649.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider M Scot Wingo sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $10.41, for a total transaction of $156,150.00. Following the transaction, the insider now owns 837,896 shares in the company, valued at approximately $8,722,497.36. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 30,000 shares of company stock worth $257,913 and have sold 45,000 shares worth $512,550. 11.30% of the stock is owned by insiders.
ECOM has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target on shares of ChannelAdvisor Corporation in a research note on Friday, November 3rd. First Analysis upgraded shares of ChannelAdvisor Corporation from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research report on Thursday, August 31st. KeyCorp restated a “hold” rating on shares of ChannelAdvisor Corporation in a research report on Friday, August 25th. BidaskClub cut shares of ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of ChannelAdvisor Corporation in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. ChannelAdvisor Corporation presently has a consensus rating of “Hold” and a consensus price target of $14.13.
ChannelAdvisor Corporation (ECOM) opened at $8.50 on Thursday. ChannelAdvisor Corporation has a 52-week low of $8.30 and a 52-week high of $15.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.94.
ChannelAdvisor Corporation (NYSE:ECOM) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. ChannelAdvisor Corporation had a negative net margin of 8.54% and a negative return on equity of 9.48%. The firm had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $30.08 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. research analysts forecast that ChannelAdvisor Corporation will post -0.58 EPS for the current year.
ChannelAdvisor Corporation 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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