Rhumbline Advisers increased its holdings in ChannelAdvisor Co. (NYSE:ECOM) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,562 shares of the software maker’s stock after buying an additional 1,108 shares during the quarter. Rhumbline Advisers owned about 0.17% of ChannelAdvisor worth $1,264,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of ChannelAdvisor during the 1st quarter worth approximately $44,000. Point72 Hong Kong Ltd grew its stake in shares of ChannelAdvisor by 244.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,413 shares of the software maker’s stock worth $57,000 after purchasing an additional 1,712 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of ChannelAdvisor during the 1st quarter worth approximately $63,000. Advisor Group Holdings Inc. grew its stake in shares of ChannelAdvisor by 604.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,840 shares of the software maker’s stock worth $70,000 after purchasing an additional 2,437 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of ChannelAdvisor by 40.5% during the 1st quarter. Royal Bank of Canada now owns 3,841 shares of the software maker’s stock worth $91,000 after purchasing an additional 1,108 shares during the period. Institutional investors own 90.11% of the company’s stock.
Shares of NYSE:ECOM opened at $26.27 on Friday. ChannelAdvisor Co. has a 1 year low of $13.36 and a 1 year high of $29.42. The firm has a market capitalization of $783.71 million, a price-to-earnings ratio of 40.42 and a beta of 0.82. The business’s 50 day moving average price is $24.71 and its 200-day moving average price is $24.18.
A number of brokerages have recently issued reports on ECOM. Needham & Company LLC increased their target price on ChannelAdvisor from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, September 20th. Zacks Investment Research lowered ChannelAdvisor from a “buy” rating to a “hold” rating in a research report on Monday, August 16th.
ChannelAdvisor Corp. provides software as a service solution. It enables the retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales across hundreds of online channels. Its customers utilize platform to connect with new and existing sources of demand for their products through channels such as Amazon, eBay, Facebook, Google and Walmart.
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