Shopify Inc. (NYSE:SHOP) Shares Sold by B & T Capital Management DBA Alpha Capital Management

B & T Capital Management DBA Alpha Capital Management trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 38,223 shares of the software maker’s stock after selling 4,669 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Shopify were worth $3,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors increased its holdings in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after buying an additional 13,885,473 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after buying an additional 542,503 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHOP. Piper Sandler restated a “neutral” rating and set a $67.00 price objective on shares of Shopify in a report on Thursday, August 29th. Truist Financial decreased their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research report on Tuesday, September 10th. Finally, Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.97.

Shopify Stock Performance

SHOP traded down $0.06 on Thursday, hitting $83.35. 1,684,401 shares of the company’s stock were exchanged, compared to its average volume of 9,429,518. The firm has a market cap of $107.41 billion, a PE ratio of -490.74, a P/E/G ratio of 2.76 and a beta of 2.36. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The stock has a fifty day moving average of $73.12 and a two-hundred day moving average of $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.

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

About Shopify

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.