Shopify Inc. (NYSE:SHOP) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,250 shares of the software maker’s stock after selling 960 shares during the period. Worth Asset Management LLC’s holdings in Shopify were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after buying an additional 1,419,749 shares during the period. Vanguard Group Inc. boosted its stake in shares of Shopify by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock worth $3,284,910,000 after buying an additional 1,242,067 shares during the period. Capital World Investors boosted its stake in shares of Shopify by 28.7% during the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock worth $3,071,197,000 after buying an additional 8,789,411 shares during the period. Capital International Investors lifted its position in Shopify by 9.7% in the fourth quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock valued at $1,235,534,000 after purchasing an additional 1,399,562 shares during the period. Finally, Norges Bank acquired a new stake in Shopify in the fourth quarter valued at about $1,049,089,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 1.1 %

Shares of SHOP opened at $64.32 on Tuesday. The company’s fifty day moving average is $64.49 and its two-hundred day moving average is $73.20. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. Equities analysts predict that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SHOP. Royal Bank of Canada reduced their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Robert W. Baird reduced their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $85.00 in a research report on Friday, April 19th. Barclays reduced their price objective on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.39.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, 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.