MORRISVILLE – The chief executive officer of ChannelAdvisor Corp., a provider of cloud-based e-commerce services, sold nearly $2.5 million worth of stock last week, according to a securities filing.

David J. Spitz sold 75,000 shares of ChannelAdvisor on Wednesday at $16.13 per share and another 81,721 shares on Thursday at $15.10 per share for a total of $2,443,737.10, according to a Form 4 filed with the Securities and Exchange Commission.

Spitz, who has been the CEO of ChannelAdvisor since 2006, now owns 251,839 shares in the company, a position worth around $3.81 million based on Thursday’s closing share price.

Last month, ChannelAdvisor reported better-than-expected earnings for the second quarter, as COVID-19 shutdowns spurred consumers to make more purchases online.

ChannelAdvisor Corp. (ECOM) stock closed at $15.01 on Thursday, down $1.06, or 6.60 percent.

The filing can be found here.

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