Kestra Private Wealth Services LLC Cuts Holdings in Shopify Inc. (NYSE:SHOP)

Kestra Private Wealth Services LLC cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,964 shares of the software maker’s stock after selling 161 shares during the period. Kestra Private Wealth Services LLC’s holdings in Shopify were worth $2,646,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Management Partners LLC increased 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 shares of Shopify by 59.1% during 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 in the last quarter. Pachira Investments Inc. lifted its holdings in shares of Shopify by 2.1% in the 4th 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 increased its stake in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the last quarter. Finally, Capital Advisors Inc. OK raised its position in Shopify by 1.7% during the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $70.38 on Thursday. The firm’s fifty day moving average is $74.83 and its two-hundred day moving average is $73.00. The firm has a market cap of $90.55 billion, a price-to-earnings ratio of 782.09 and a beta of 2.20. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Research analysts expect that Shopify Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SHOP. Wells Fargo & Company decreased their price target on Shopify from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Citigroup raised shares of Shopify from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $93.00 to $105.00 in a research note on Monday. Mizuho raised their price objective on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley raised Shopify from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Finally, DA Davidson boosted their price objective on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.62.

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.