Summary
Comerica Bank lowered its holdings in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 9.1% in the first quarter, HoldingsChannel reports. The firm owned 5,260 shares of the software maker’s stock after selling 526 shares during the period. Comerica Bank’s holdings in Shopify were worth $2,761,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Bell Private Wealth Management LLC bought a new position in Shopify during the fourth quarter worth about $25,000. Western Pacific Wealth Management LP acquired a new stake in Shopify during the fourth quarter worth approximately $26,000. Amplius Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter worth approximately $31,000. Parkside Financial Bank & Trust lifted its position in Shopify by 666.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock worth $32,000 after acquiring an additional 20 shares during the last quarter. Finally, PYA Waltman Capital LLC acquired a new stake in Shopify during the fourth quarter worth approximately $47,000. Institutional investors own 62.60% of the company’s stock.
Comerica Bank lowered its holdings in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 9.1% in the first quarter, HoldingsChannel reports. The firm owned 5,260 shares of the software maker’s stock after selling 526 shares during the period. Comerica Bank’s holdings in Shopify were worth $2,761,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Bell Private Wealth Management LLC bought a new position in Shopify during the fourth quarter worth about $25,000. Western Pacific Wealth Management LP acquired a new stake in Shopify during the fourth quarter worth approximately $26,000. Amplius Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter worth approximately $31,000. Parkside Financial Bank & Trust lifted its position in Shopify by 666.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock worth $32,000 after acquiring an additional 20 shares during the last quarter. Finally, PYA Waltman Capital LLC acquired a new stake in Shopify during the fourth quarter worth approximately $47,000. Institutional investors own 62.60% of the company’s stock.
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Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on SHOP shares. Citigroup dropped their price target on shares of Shopify from $53.40 to $43.20 in a research report on Friday, May 6th. Benchmark upgraded shares of Shopify to a “hold” rating in a research report on Thursday, June 23rd. StockNews.com upgraded shares of Shopify to a “sell” rating in a research report on Thursday, June 30th. KeyCorp dropped their price target on shares of Shopify from $65.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Finally, JMP Securities started coverage on shares of Shopify in a research note on Tuesday, July 5th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.07.
Shopify Price Performance
SHOP stock opened at $40.40 on Friday. The firm has a market cap of $50.86 billion, a price-to-earnings ratio of 323.20 and a beta of 1.84. The company has a quick ratio of 11.84, a current ratio of 11.84 and a debt-to-equity ratio of 0.12. Shopify Inc. has a 12-month low of $29.72 and a 12-month high of $176.29. The company’s fifty day simple moving average is $41.16 and its 200 day simple moving average is $61.13.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its earnings results on Thursday, May 5th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Shopify had a net margin of 3.77% and a return on equity of 1.94%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. Shopify’s quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts expect that Shopify Inc. will post -0.44 earnings per share for the current year.
Shopify Company Profile
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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
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