Zacks Investment Research cut shares of ChannelAdvisor Corporation (NYSE:ECOM) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “Channel Advisor Corporation offers cloud-based e-commerce solutions and services. It solutions include marketplaces, comparison shopping, paid search, social campaigns, flex feeds, web stores and rich media. The company serves traditional retailers, online retailers, brand manufacturers and advertising agencies. Channel Advisor Corporation is headquartered in Morrisville, North Carolina. “

Several other analysts have also recently commented on ECOM. William Blair reaffirmed a market perform rating on shares of ChannelAdvisor Corporation in a research note on Thursday, May 4th. First Analysis cut shares of ChannelAdvisor Corporation from an overweight rating to an equal weight rating in a research note on Tuesday, May 9th. ValuEngine raised shares of ChannelAdvisor Corporation from a sell rating to a hold rating in a research note on Thursday, May 18th. Finally, TheStreet cut shares of ChannelAdvisor Corporation from a c- rating to a d+ rating in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $15.50.

ChannelAdvisor Corporation (ECOM) opened at 11.60 on Wednesday. The firm’s market cap is $305.43 million. ChannelAdvisor Corporation has a 12-month low of $10.20 and a 12-month high of $15.91. The company has a 50-day moving average price of $11.72 and a 200-day moving average price of $12.42.

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In other ChannelAdvisor Corporation news, insider M Scot Wingo sold 15,000 shares of ChannelAdvisor Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $11.57, for a total value of $173,550.00. Following the completion of the sale, the insider now directly owns 867,896 shares of the company’s stock, valued at approximately $10,041,556.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 45,000 shares of company stock valued at $513,300 over the last ninety days. 11.30% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Arrowpoint Asset Management LLC boosted its stake in shares of ChannelAdvisor Corporation by 0.6% in the fourth quarter. Arrowpoint Asset Management LLC now owns 4,096,882 shares of the software maker’s stock valued at $58,790,000 after buying an additional 23,094 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in shares of ChannelAdvisor Corporation by 1.3% in the first quarter. Shapiro Capital Management LLC now owns 3,757,017 shares of the software maker’s stock valued at $41,891,000 after buying an additional 47,586 shares in the last quarter. Cortina Asset Management LLC boosted its stake in shares of ChannelAdvisor Corporation by 8.4% in the fourth quarter. Cortina Asset Management LLC now owns 684,036 shares of the software maker’s stock valued at $9,816,000 after buying an additional 53,266 shares in the last quarter. State Street Corp boosted its stake in shares of ChannelAdvisor Corporation by 2.8% in the fourth quarter. State Street Corp now owns 368,330 shares of the software maker’s stock valued at $5,285,000 after buying an additional 10,000 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake 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 valued at $2,655,000 after buying an additional 111,276 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

About ChannelAdvisor Corporation

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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