Gleason Group Inc. Sells 2,250 Shares of Shopify Inc. (NYSE:SHOP)

Gleason Group Inc. lessened its holdings in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 52.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the software maker’s stock after selling 2,250 shares during the quarter. Gleason Group Inc.’s holdings in Shopify were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHOP. Vident Investment Advisory LLC raised its position in shares of Shopify by 5.3% in the 1st quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock valued at $447,000 after acquiring an additional 33 shares during the period. Interchange Capital Partners LLC raised its position in shares of Shopify by 7.1% in the 1st quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker’s stock valued at $345,000 after acquiring an additional 34 shares during the period. Ancora Advisors LLC raised its position in shares of Shopify by 6.2% in the 1st quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker’s stock valued at $1,302,000 after acquiring an additional 69 shares during the period. SVB Wealth LLC raised its position in shares of Shopify by 14.0% in the 1st quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock valued at $445,000 after acquiring an additional 81 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its position in shares of Shopify by 292.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock valued at $74,000 after acquiring an additional 82 shares during the period. Institutional investors own 56.31% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $44.68 on Friday. Shopify Inc. has a 1-year low of $23.63 and a 1-year high of $78.00. The company has a current ratio of 7.07, a quick ratio of 7.07 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $44.17 and a 200 day simple moving average of $37.20. The stock has a market capitalization of $56.42 billion, a PE ratio of -16.37 and a beta of 2.04.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings data on Wednesday, February 15th. The software maker reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.64 billion. On average, research analysts expect that Shopify Inc. will post -0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Oppenheimer increased their price target on shares of Shopify from $45.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Robert W. Baird raised their target price on shares of Shopify from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. William Blair restated an “outperform” rating on shares of Shopify in a report on Wednesday, January 25th. Jefferies Financial Group downgraded shares of Shopify from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Thursday, January 5th. Finally, Truist Financial raised their target price on shares of Shopify from $35.00 to $41.00 and gave the stock a “hold” rating in a report on Thursday, January 19th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.38.

Shopify Company Profile

(Get Rating)

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.