Shopify Inc. (NYSE:SHOP) Stake Reduced by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,228 shares of the software maker’s stock after selling 297 shares during the period. SeaCrest Wealth Management LLC’s holdings in Shopify were worth $419,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new position in Shopify during the 4th quarter valued at about $432,000. First Hawaiian Bank acquired a new position in shares of Shopify during the first quarter worth approximately $1,048,000. Massmutual Trust Co. FSB ADV grew its holdings in Shopify by 22.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,019 shares of the software maker’s stock worth $156,000 after buying an additional 369 shares in the last quarter. Banque Cantonale Vaudoise increased its position in Shopify by 40.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,735 shares of the software maker’s stock valued at $211,000 after acquiring an additional 789 shares during the period. Finally, American National Bank raised its stake in Shopify by 870.0% during the 1st quarter. American National Bank now owns 970 shares of the software maker’s stock valued at $75,000 after acquiring an additional 870 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 0.3 %

Shares of NYSE:SHOP opened at $81.59 on Friday. The firm has a fifty day moving average of $75.99 and a two-hundred day moving average of $68.90. 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 12-month low of $45.50 and a 12-month high of $91.57. The firm has a market capitalization of $105.14 billion, a P/E ratio of 83.26, a price-to-earnings-growth ratio of 2.80 and a beta of 2.36.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SHOP. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Wolfe Research began coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target on the stock. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Tuesday, September 17th. Benchmark reissued a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Finally, Wells Fargo & Company increased their price target on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $78.97.

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.