Financial Perspectives Inc Lowers Position in Shopify Inc. (NYSE:SHOP)

Financial Perspectives Inc trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,051 shares of the software maker’s stock after selling 2,720 shares during the quarter. Financial Perspectives Inc’s holdings in Shopify were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC boosted its position in Shopify by 0.9% in the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after purchasing an additional 126 shares during the last quarter. SJS Investment Consulting Inc. raised its position in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the period. Pachira Investments Inc. boosted its stake in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after acquiring an additional 146 shares during the last quarter. Baldwin Brothers LLC MA grew its position in shares of Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares during the period. Finally, Capital Advisors Inc. OK increased its stake in shares of Shopify by 1.7% during the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SHOP. Loop Capital dropped their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. DA Davidson upped their price objective on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group lifted their target price on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, January 5th. Citigroup dropped their price target on shares of Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Hold” and an average price target of $78.30.

Shopify Trading Up 4.9 %

SHOP traded up $3.47 during midday trading on Tuesday, reaching $74.02. 9,507,178 shares of the company’s stock traded hands, compared to its average volume of 9,473,095. The stock has a market capitalization of $95.23 billion, a price-to-earnings ratio of 784.20 and a beta of 2.22. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a fifty day moving average of $75.98 and a two-hundred day moving average of $72.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities analysts anticipate that Shopify Inc. will post 0.58 earnings per share for the current fiscal 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.