Atria Wealth Solutions Inc. Has $5.72 Million Stake in Shopify Inc. (NYSE:SHOP)

Atria Wealth Solutions Inc. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,440 shares of the software maker’s stock after selling 2,321 shares during the period. Atria Wealth Solutions Inc.’s holdings in Shopify were worth $5,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SJS Investment Consulting Inc. increased its stake in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the period. Baldwin Brothers LLC MA increased its stake in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares during the period. Global Trust Asset Management LLC increased its stake in shares of Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after buying an additional 350 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Shopify in the 3rd quarter valued at $47,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of Shopify by 1,112.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after buying an additional 556 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

NYSE:SHOP opened at $71.30 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The stock’s 50-day simple moving average is $75.28 and its 200 day simple moving average is $72.50. The company has a market cap of $91.73 billion, a P/E ratio of 792.31 and a beta of 2.22. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SHOP shares. Roth Capital lifted their target price on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday. Citigroup reduced their price target on Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Robert W. Baird raised their price target on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $85.00 in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $78.30.

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.