OxFORD Asset Management LLP Purchases 14,155 Shares of ChannelAdvisor Corp (ECOM)
OxFORD Asset Management LLP lifted its position in shares of ChannelAdvisor Corp (NYSE:ECOM) by 39.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,864 shares of the software maker’s stock after buying an additional 14,155 shares during the period. OxFORD Asset Management LLP owned about 0.19% of ChannelAdvisor worth $574,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of ChannelAdvisor by 52.8% during the third quarter. Wells Fargo & Company MN now owns 29,202 shares of the software maker’s stock worth $336,000 after buying an additional 10,091 shares during the period. Archon Capital Management LLC boosted its position in ChannelAdvisor by 42.7% during the third quarter. Archon Capital Management LLC now owns 839,874 shares of the software maker’s stock valued at $9,659,000 after purchasing an additional 251,364 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in ChannelAdvisor by 102.4% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 41,275 shares of the software maker’s stock valued at $475,000 after purchasing an additional 20,880 shares during the last quarter. Prudential Financial Inc. acquired a new position in ChannelAdvisor during the third quarter valued at approximately $118,000. Finally, Emerald Advisers Inc. PA boosted its position in ChannelAdvisor by 10.0% during the third quarter. Emerald Advisers Inc. PA now owns 726,017 shares of the software maker’s stock valued at $8,349,000 after purchasing an additional 66,082 shares during the last quarter. 81.72% of the stock is owned by institutional investors.
Several research analysts recently commented on ECOM shares. First Analysis raised ChannelAdvisor from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Thursday, August 31st. BidaskClub raised ChannelAdvisor from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of ChannelAdvisor in a research report on Sunday, September 17th. DA Davidson initiated coverage on ChannelAdvisor in a research note on Friday, September 22nd. They issued a “neutral” rating and a $12.50 price objective on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $13.00 price objective on shares of ChannelAdvisor in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.13.
ChannelAdvisor (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 the consensus estimate of ($0.17) by $0.02. The firm had revenue of $30.10 million for the quarter, compared to analyst estimates of $30.08 million. ChannelAdvisor had a negative return on equity of 9.48% and a negative net margin of 8.54%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. equities research analysts forecast that ChannelAdvisor Corp will post -0.58 EPS for the current fiscal year.
In other news, insider M Scot Wingo sold 15,000 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $12.04, for a total transaction of $180,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph L. Cowan bought 16,870 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $8.48 per share, for a total transaction of $143,057.60. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 30,000 shares of company stock worth $257,913. 11.30% of the stock is owned by corporate insiders.
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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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