Wells Fargo & Company MN lowered its stake in shares of CommerceHub (NASDAQ:CHUBA) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,638 shares of the technology company’s stock after selling 5,046 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of CommerceHub worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC acquired a new position in CommerceHub in the third quarter worth $11,072,000. Atlantic Trust Group LLC acquired a new position in CommerceHub in the third quarter worth $2,035,000. Acadian Asset Management LLC acquired a new position in CommerceHub in the fourth quarter worth $847,000. Mesirow Financial Investment Management Inc. acquired a new position in CommerceHub in the fourth quarter worth $495,000. Finally, Dimensional Fund Advisors LP boosted its holdings in CommerceHub by 9.6% in the third quarter. Dimensional Fund Advisors LP now owns 238,293 shares of the technology company’s stock worth $5,378,000 after purchasing an additional 20,864 shares during the period. 30.10% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CHUBA opened at $22.64 on Tuesday. CommerceHub has a fifty-two week low of $15.54 and a fifty-two week high of $24.53. The stock has a market cap of $984.95, a P/E ratio of 61.19, a P/E/G ratio of 3.22 and a beta of -0.72.
CHUBA has been the subject of a number of research reports. BidaskClub downgraded shares of CommerceHub from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Northland Securities initiated coverage on shares of CommerceHub in a report on Thursday, December 28th. They issued an “outperform” rating and a $28.00 price objective for the company. Oppenheimer initiated coverage on shares of CommerceHub in a report on Saturday, December 30th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded shares of CommerceHub from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, DA Davidson decreased their price objective on shares of CommerceHub to $23.00 and set a “buy” rating for the company in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $26.17.
CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.
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