MORRISVILLE — The executive chairman of ChannelAdvisor Corp., a provider of e-commerce solutions, sold 50,000 shares of common stock for a total of $631,316 on last week.

Scot Wingo sold 1,583 shares at an average price of $12, another 35,917 at $12.59 and 12,500 shares at an average price of $12.81, according to the Form 4 filed with the Securities and Exchange Commission.

Wingo, who is also a co-founder of ChannelAdvisor, now directly owns 594,607 shares of common stock in the company worth more than $7.7 million.

Since August 2018, Wingo has sold the stock in the market five times, profiting almost $850,000, according to multiple filings.

ChannelAdvisor is a provider of cloud-based e-commerce solutions that work to increase sales worldwide for companies and brands including Clarks, KitchenAid, Timex, Target and more.

Wingo founded the company in 2001 and served as CEO until 2015. ChannelAdvisor was founded in order to help retailers and brands connect with customers, optimize operations and grow sales channels.

The Morrisville-based company went public in 2013 and recently beat its third-quarter expectations in November 2018. That story can be found here.

The company’s stock price traded at $13.01 on Monday afternoon.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism