Strategic Advisors LLC Lowers Position in Shopify Inc. (NYSE:SHOP)

Strategic Advisors LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,890 shares of the software maker’s stock after selling 6,941 shares during the period. Strategic Advisors LLC’s holdings in Shopify were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the period. Willis Johnson & Associates Inc. lifted its holdings in Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after buying an additional 149 shares during the period. Valley National Advisers Inc. increased its position in shares of Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after purchasing an additional 152 shares in the last quarter. Guardian Asset Advisors LLC increased its position in shares of Shopify by 3.0% during the third quarter. Guardian Asset Advisors LLC now owns 5,582 shares of the software maker’s stock worth $447,000 after purchasing an additional 160 shares in the last quarter. Finally, Axiom Advisory LLC increased its position in shares of Shopify by 1.6% during the third quarter. Axiom Advisory LLC now owns 10,880 shares of the software maker’s stock worth $872,000 after purchasing an additional 170 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 0.5 %

Shares of SHOP stock traded down $0.44 during midday trading on Thursday, reaching $82.97. 1,968,132 shares of the stock were exchanged, compared to its average volume of 9,430,966. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company’s 50 day moving average is $73.12 and its two-hundred day moving average is $68.65. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $106.92 billion, a PE ratio of -490.74, a price-to-earnings-growth ratio of 2.76 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. On average, equities research analysts predict that Shopify Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHOP. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. KeyCorp began coverage on Shopify in a research report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. Morgan Stanley upped their target price on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. UBS Group upped their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Evercore upped their target price on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Company 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.