Shopify Inc. (NYSE:SHOP) Shares Sold by Brighton Jones LLC

Brighton Jones LLC trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,592 shares of the software maker’s stock after selling 9,876 shares during the quarter. Brighton Jones LLC’s holdings in Shopify were worth $1,650,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in shares of Shopify during the third quarter worth about $219,000. International Assets Investment Management LLC boosted its position in shares of Shopify by 7,928.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,141,915 shares of the software maker’s stock valued at $91,513,000 after purchasing an additional 1,127,692 shares during the period. Detalus Advisors LLC purchased a new position in Shopify during the 3rd quarter worth approximately $222,000. Greenleaf Trust acquired a new position in Shopify during the third quarter worth approximately $301,000. Finally, Weaver Capital Management LLC lifted its stake in Shopify by 63.1% in the third quarter. Weaver Capital Management LLC now owns 50,186 shares of the software maker’s stock valued at $4,022,000 after buying an additional 19,409 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 0.2 %

Shares of NYSE SHOP opened at $79.83 on Friday. The firm has a market cap of $102.87 billion, a P/E ratio of -469.56, a price-to-earnings-growth ratio of 2.73 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The firm’s 50 day moving average price is $76.94 and its 200 day moving average price is $69.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping 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%. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Wedbush reiterated a “neutral” rating and set a $72.00 target price (up previously from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. Scotiabank raised their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday. Roth Mkm upped their price objective on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.49.

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.