Archon Capital Management LLC Has $9.51 Million Holdings in ChannelAdvisor (NYSE:ECOM)

Archon Capital Management LLC cut its holdings in ChannelAdvisor (NYSE:ECOM) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,045,346 shares of the software maker’s stock after selling 20,000 shares during the quarter. ChannelAdvisor comprises 0.9% of Archon Capital Management LLC’s holdings, making the stock its 4th largest position. Archon Capital Management LLC owned 3.93% of ChannelAdvisor worth $9,513,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ECOM. ArrowMark Colorado Holdings LLC lifted its position in ChannelAdvisor by 4.2% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,265,810 shares of the software maker’s stock worth $38,392,000 after buying an additional 173,491 shares in the last quarter. BlackRock Inc. raised its position in ChannelAdvisor by 0.9% in the fourth quarter. BlackRock Inc. now owns 1,561,140 shares of the software maker’s stock valued at $14,050,000 after purchasing an additional 14,112 shares during the period. Cortina Asset Management LLC raised its position in ChannelAdvisor by 22.8% in the fourth quarter. Cortina Asset Management LLC now owns 617,251 shares of the software maker’s stock valued at $5,555,000 after purchasing an additional 114,435 shares during the period. potrero capital research llc raised its position in ChannelAdvisor by 251.5% in the fourth quarter. potrero capital research llc now owns 277,840 shares of the software maker’s stock valued at $2,501,000 after purchasing an additional 198,798 shares during the period. Finally, Millennium Management LLC raised its position in ChannelAdvisor by 178.0% in the fourth quarter. Millennium Management LLC now owns 261,848 shares of the software maker’s stock valued at $2,357,000 after purchasing an additional 167,660 shares during the period. Institutional investors own 74.32% of the company’s stock.

ECOM opened at $14.75 on Friday. ChannelAdvisor has a twelve month low of $8.30 and a twelve month high of $15.05.

ChannelAdvisor (NYSE:ECOM) last announced its earnings results on Thursday, May 10th. The software maker reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. ChannelAdvisor had a negative return on equity of 14.23% and a negative net margin of 9.28%. The firm had revenue of $31.40 million for the quarter, compared to analysts’ expectations of $29.97 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. equities analysts anticipate that ChannelAdvisor will post -0.4 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted their price objective on ChannelAdvisor to $17.00 and gave the company a “buy” rating in a research note on Friday, May 11th. Needham & Company LLC lowered their price objective on ChannelAdvisor from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. ValuEngine raised ChannelAdvisor from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Zacks Investment Research raised ChannelAdvisor from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, April 24th. Finally, TheStreet raised ChannelAdvisor from a “d+” rating to a “c-” rating in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.33.

In other ChannelAdvisor news, insider M Scot Wingo sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $14.59, for a total transaction of $729,500.00. Following the completion of the transaction, the insider now owns 712,052 shares of the company’s stock, valued at approximately $10,388,838.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Janet Raye Cowell sold 2,400 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $14.65, for a total transaction of $35,160.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,967 shares of company stock worth $1,144,920. 7.80% of the stock is currently owned by corporate insiders.

ChannelAdvisor Company Profile

ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps retailers and branded manufacturers to improve their online performance by expanding sales channels, connecting with consumers around the world, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.

Institutional Ownership by Quarter for ChannelAdvisor (NYSE:ECOM)

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