Grandview Asset Management LLC Sells 200 Shares of Shopify Inc. (NYSE:SHOP)

Grandview Asset Management LLC lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,780 shares of the software maker’s stock after selling 200 shares during the quarter. Grandview Asset Management LLC’s holdings in Shopify were worth $704,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Delta Financial Group Inc. bought a new position in shares of Shopify in the 3rd quarter worth $223,000. Canandaigua National Bank & Trust Co. grew its stake in Shopify by 28.8% in the third quarter. Canandaigua National Bank & Trust Co. now owns 14,526 shares of the software maker’s stock valued at $1,164,000 after purchasing an additional 3,249 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares in the last quarter. Doliver Advisors LP lifted its position in shares of Shopify by 3.7% during the third quarter. Doliver Advisors LP now owns 5,913 shares of the software maker’s stock valued at $474,000 after buying an additional 210 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in shares of Shopify by 31.5% in the 2nd quarter. Anchor Investment Management LLC now owns 865 shares of the software maker’s stock valued at $57,000 after buying an additional 207 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SHOP shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, September 30th. Barclays increased their price objective on Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday. Wolfe Research assumed coverage on Shopify in a research note on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price on the stock. Argus raised Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Benchmark reissued a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Shopify Price Performance

Shares of NYSE:SHOP traded up $4.29 during trading on Friday, reaching $82.43. 7,746,218 shares of the company’s stock traded hands, compared to its average volume of 5,727,086. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a 50-day simple moving average of $71.79 and a 200-day simple moving average of $68.60. The firm has a market cap of $106.23 billion, a PE ratio of -484.88, a P/E/G ratio of 2.65 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. As a group, analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

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.