BlackRock Inc. raised its stake in CommerceHub (NASDAQ:CHUBA) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 945,521 shares of the technology company’s stock after acquiring an additional 52,333 shares during the period. BlackRock Inc.’s holdings in CommerceHub were worth $20,793,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AMP Capital Investors Ltd purchased a new stake in shares of CommerceHub in the third quarter worth $365,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of CommerceHub in the fourth quarter worth $495,000. Acadian Asset Management LLC purchased a new stake in shares of CommerceHub in the fourth quarter worth $847,000. California Public Employees Retirement System grew its stake in shares of CommerceHub by 59.8% in the fourth quarter. California Public Employees Retirement System now owns 41,473 shares of the technology company’s stock worth $912,000 after acquiring an additional 15,513 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of CommerceHub by 5.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 55,214 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 2,906 shares during the last quarter. 30.24% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on CHUBA shares. Zacks Investment Research cut CommerceHub from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Oppenheimer started coverage on CommerceHub in a research report on Saturday, December 30th. They set a “market perform” rating on the stock. BidaskClub cut CommerceHub from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Northland Securities started coverage on CommerceHub in a research report on Thursday, December 28th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, DA Davidson dropped their price objective on CommerceHub to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 2nd. One 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 stock has a consensus rating of “Hold” and a consensus price target of $26.17.
CommerceHub (NASDAQ:CHUBA) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $36.73 million during the quarter, compared to analysts’ expectations of $37.74 million. CommerceHub had a return on equity of 37.34% and a net margin of 8.87%. equities analysts anticipate that CommerceHub will post 0.53 EPS for the current fiscal year.
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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