California Public Employees Retirement System reduced its position in ChannelAdvisor Corp (NYSE:ECOM) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,032 shares of the software maker’s stock after selling 2,160 shares during the quarter. California Public Employees Retirement System’s holdings in ChannelAdvisor were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio raised its position in shares of ChannelAdvisor by 7.5% during the 2nd quarter. Strs Ohio now owns 52,800 shares of the software maker’s stock valued at $462,000 after purchasing an additional 3,700 shares during the period. Swiss National Bank increased its stake in ChannelAdvisor by 11.3% in the 2nd quarter. Swiss National Bank now owns 48,300 shares of the software maker’s stock worth $423,000 after buying an additional 4,900 shares in the last quarter. Stone Ridge Asset Management LLC increased its stake in ChannelAdvisor by 7.4% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 26,156 shares of the software maker’s stock worth $229,000 after buying an additional 1,800 shares in the last quarter. Wells Fargo & Company MN raised its holdings in ChannelAdvisor by 12.0% during the second quarter. Wells Fargo & Company MN now owns 46,222 shares of the software maker’s stock valued at $404,000 after acquiring an additional 4,946 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in ChannelAdvisor by 76.7% during the second quarter. JPMorgan Chase & Co. now owns 24,156 shares of the software maker’s stock valued at $214,000 after acquiring an additional 10,482 shares during the period. 82.38% of the stock is owned by hedge funds and other institutional investors.

ChannelAdvisor stock opened at $9.11 on Friday. ChannelAdvisor Corp has a 1 year low of $8.01 and a 1 year high of $13.83. The firm’s 50 day moving average price is $9.26 and its 200-day moving average price is $9.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market cap of $266.28 million, a P/E ratio of -35.04 and a beta of 0.35.

ECOM has been the subject of a number of recent analyst reports. Zacks Investment Research raised ChannelAdvisor from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Friday, November 8th. B. Riley set a $12.00 target price on ChannelAdvisor and gave the company a “buy” rating in a research note on Friday, September 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $11.01.

In related news, Chairman M Scot Wingo sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $9.01, for a total transaction of $90,100.00. Following the completion of the transaction, the chairman now directly owns 577,115 shares of the company’s stock, valued at $5,199,806.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.10% 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 brands and retailers 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.

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Institutional Ownership by Quarter for ChannelAdvisor (NYSE:ECOM)

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