Martingale Asset Management L P Acquires 14,616 Shares of ChannelAdvisor Co. (NYSE:ECOM)

Martingale Asset Management L P lifted its stake in ChannelAdvisor Co. (NYSE:ECOMGet Rating) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,096 shares of the software maker’s stock after acquiring an additional 14,616 shares during the period. Martingale Asset Management L P owned approximately 0.31% of ChannelAdvisor worth $1,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ECOM. Lazard Asset Management LLC raised its stake in ChannelAdvisor by 16.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,385 shares of the software maker’s stock valued at $83,000 after purchasing an additional 477 shares in the last quarter. Natixis Advisors L.P. lifted its stake in ChannelAdvisor by 4.0% during the first quarter. Natixis Advisors L.P. now owns 28,390 shares of the software maker’s stock worth $470,000 after purchasing an additional 1,096 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ChannelAdvisor by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 13,487 shares of the software maker’s stock valued at $333,000 after purchasing an additional 1,197 shares during the last quarter. Covestor Ltd bought a new stake in ChannelAdvisor in the 4th quarter worth approximately $43,000. Finally, Qube Research & Technologies Ltd grew its position in ChannelAdvisor by 12.5% during the first quarter. Qube Research & Technologies Ltd now owns 15,971 shares of the software maker’s stock valued at $265,000 after acquiring an additional 1,773 shares during the last quarter. 94.31% of the stock is currently owned by institutional investors.

ChannelAdvisor Price Performance

Shares of ECOM opened at $14.70 on Friday. The business has a fifty day moving average of $14.98 and a 200 day moving average of $15.17. The firm has a market capitalization of $422.32 million, a P/E ratio of 11.40 and a beta of 0.76. ChannelAdvisor Co. has a one year low of $11.89 and a one year high of $29.42.

ChannelAdvisor (NYSE:ECOMGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The software maker reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. ChannelAdvisor had a return on equity of 7.11% and a net margin of 23.74%. The business had revenue of $42.80 million during the quarter, compared to analysts’ expectations of $42.70 million. Analysts expect that ChannelAdvisor Co. will post 0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com raised ChannelAdvisor from a “hold” rating to a “buy” rating in a research note on Friday, July 8th. B. Riley decreased their target price on ChannelAdvisor from $32.00 to $24.00 in a report on Monday, May 9th.

Insider Activity at ChannelAdvisor

In related news, Director M Scot Wingo sold 3,250 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $14.48, for a total transaction of $47,060.00. Following the completion of the sale, the director now directly owns 34,501 shares of the company’s stock, valued at approximately $499,574.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 9,750 shares of company stock worth $145,405. Insiders own 4.60% of the company’s stock.

About ChannelAdvisor

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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.

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Institutional Ownership by Quarter for ChannelAdvisor (NYSE:ECOM)

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