Daiwa Securities Group Inc. Sells 2183 Shares of Shopify Inc. (NYSE:SHOP) - Defense World

Summary

Daiwa Securities Group Inc. lessened its position in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 88.5% during the first quarter, Holdings Channel reports. The fund owned 285 shares of the software maker’s stock after selling 2,183 shares during the period. Daiwa Securities Group Inc.’s holdings in Shopify were worth $193,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SHOP. Western Pacific Wealth Management LP bought a new position in Shopify in the fourth quarter valued at $26,000. Amplius Wealth Advisors LLC bought a new position in Shopify in the fourth quarter valued at $31,000. Parkside Financial Bank & Trust increased its stake in Shopify by 666.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock valued at $32,000 after acquiring an additional 20 shares during the last quarter. Activest Wealth Management increased its stake in Shopify by 266.7% in the first quarter. Activest Wealth Management now owns 66 shares of the software maker’s stock valued at $45,000 after acquiring an additional 48 shares during the last quarter. Finally, PYA Waltman Capital LLC bought a new position in shares of Shopify during the fourth quarter valued at about $47,000. Institutional investors own 62.60% of the company’s stock.

Daiwa Securities Group Inc. lessened its position in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 88.5% during the first quarter, Holdings Channel reports. The fund owned 285 shares of the software maker’s stock after selling 2,183 shares during the period. Daiwa Securities Group Inc.’s holdings in Shopify were worth $193,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SHOP. Western Pacific Wealth Management LP bought a new position in Shopify in the fourth quarter valued at $26,000. Amplius Wealth Advisors LLC bought a new position in Shopify in the fourth quarter valued at $31,000. Parkside Financial Bank & Trust increased its stake in Shopify by 666.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock valued at $32,000 after acquiring an additional 20 shares during the last quarter. Activest Wealth Management increased its stake in Shopify by 266.7% in the first quarter. Activest Wealth Management now owns 66 shares of the software maker’s stock valued at $45,000 after acquiring an additional 48 shares during the last quarter. Finally, PYA Waltman Capital LLC bought a new position in shares of Shopify during the fourth quarter valued at about $47,000. Institutional investors own 62.60% of the company’s stock.

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Shopify Stock Down 1.7 %

Shares of NYSE SHOP opened at $36.71 on Tuesday. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 293.68 and a beta of 1.84. Shopify Inc. has a 12-month low of $29.72 and a 12-month high of $176.29. The firm’s 50-day moving average price is $41.11 and its 200-day moving average price is $59.18. The company has a current ratio of 11.84, a quick ratio of 11.84 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

Shopify ( NYSE:SHOP Get Rating ) (TSE:SHOP) last issued its quarterly earnings results on Thursday, May 5th. The software maker reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.24 billion. Shopify had a net margin of 3.77% and a return on equity of 1.94%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, equities research analysts anticipate that Shopify Inc. will post -0.45 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Shopify from $100.00 to $63.00 in a research note on Friday, May 6th. National Bankshares set a $75.00 price objective on Shopify and gave the company an “outperform” rating in a research note on Thursday, June 30th. Wedbush reduced their price objective on Shopify from $63.00 to $53.80 in a research note on Monday, May 9th. Citigroup reduced their price objective on Shopify from $53.40 to $43.20 in a research note on Friday, May 6th. Finally, Loop Capital reduced their price objective on Shopify from $66.00 to $46.00 in a research note on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.74.

Shopify 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.

Further Reading

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP).

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Daiwa Securities Group Inc. Sells 2183 Shares of Shopify Inc. (NYSE:SHOP) - Defense World
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