Summary
Steward Partners Investment Advisory LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 55.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,819 shares of the software maker’s stock after selling 2,286 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Shopify were worth $1,230,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ocean Capital Management LLC increased its position in shares of Shopify by 24.5% during the first quarter. Ocean Capital Management LLC now owns 955 shares of the software maker’s stock valued at $660,000 after acquiring an additional 188 shares during the last quarter. Mechanics Bank Trust Department increased its position in Shopify by 28.5% in the first quarter. Mechanics Bank Trust Department now owns 1,563 shares of the software maker’s stock worth $1,056,000 after buying an additional 347 shares during the last quarter. Arkadios Wealth Advisors increased its position in Shopify by 168.1% in the first quarter. Arkadios Wealth Advisors now owns 866 shares of the software maker’s stock worth $585,000 after buying an additional 543 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Shopify in the first quarter worth $227,000. Finally, Markel Corp purchased a new stake in Shopify in the first quarter worth $1,859,000. 62.60% of the stock is owned by hedge funds and other institutional investors.
Steward Partners Investment Advisory LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 55.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,819 shares of the software maker’s stock after selling 2,286 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Shopify were worth $1,230,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ocean Capital Management LLC increased its position in shares of Shopify by 24.5% during the first quarter. Ocean Capital Management LLC now owns 955 shares of the software maker’s stock valued at $660,000 after acquiring an additional 188 shares during the last quarter. Mechanics Bank Trust Department increased its position in Shopify by 28.5% in the first quarter. Mechanics Bank Trust Department now owns 1,563 shares of the software maker’s stock worth $1,056,000 after buying an additional 347 shares during the last quarter. Arkadios Wealth Advisors increased its position in Shopify by 168.1% in the first quarter. Arkadios Wealth Advisors now owns 866 shares of the software maker’s stock worth $585,000 after buying an additional 543 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Shopify in the first quarter worth $227,000. Finally, Markel Corp purchased a new stake in Shopify in the first quarter worth $1,859,000. 62.60% of the stock is owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
A number of analysts have issued reports on SHOP shares. Deutsche Bank Aktiengesellschaft decreased their target price on Shopify from $90.00 to $55.00 in a research report on Monday, May 2nd. Roth Capital decreased their target price on Shopify from $85.00 to $62.50 in a research report on Thursday, April 21st. Benchmark raised Shopify to a “hold” rating in a report on Thursday, June 23rd. Truist Financial cut their price target on Shopify to $35.00 and set a “hold” rating for the company in a report on Tuesday, July 5th. Finally, TD Securities cut their price target on Shopify from $84.00 to $50.00 and set a “hold” rating for the company in a report on Friday, May 6th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.74.
Shopify Stock Down 1.7 %
SHOP opened at $36.71 on Tuesday. The company has a market cap of $46.22 billion, a P/E ratio of 293.68 and a beta of 1.84. The business’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. Shopify Inc. has a 12 month low of $29.72 and a 12 month high of $176.29.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings data 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Shopify had a return on equity of 1.94% and a net margin of 3.77%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, equities analysts expect that Shopify Inc. will post -0.45 EPS for the current year.
About Shopify
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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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