Weitz Investment Management Inc. trimmed its position in shares of CommerceHub Inc (NASDAQ:CHUBA) by 71.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the technology company’s stock after selling 67,000 shares during the quarter. Weitz Investment Management Inc.’s holdings in CommerceHub were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in CHUBA. Teachers Advisors LLC acquired a new stake in shares of CommerceHub during the 2nd quarter valued at about $406,000. TIAA CREF Investment Management LLC acquired a new stake in CommerceHub in the 2nd quarter worth approximately $651,000. Nationwide Fund Advisors acquired a new stake in CommerceHub in the 2nd quarter worth approximately $137,000. New York State Common Retirement Fund acquired a new stake in CommerceHub in the 2nd quarter worth approximately $256,000. Finally, Northern Trust Corp acquired a new stake in CommerceHub in the 2nd quarter worth approximately $2,935,000. Institutional investors and hedge funds own 30.37% of the company’s stock.
CHUBA has been the subject of several analyst reports. Zacks Investment Research upgraded CommerceHub from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, November 14th. BidaskClub downgraded CommerceHub from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Northland Securities assumed coverage on CommerceHub in a research report on Thursday, December 28th. They issued an “outperform” rating and a $28.00 price target on the stock. DA Davidson downgraded CommerceHub from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Wednesday, March 7th. Finally, Oppenheimer assumed coverage on CommerceHub in a research report on Saturday, December 30th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus 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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