Commonwealth Equity Services LLC Decreases Stock Holdings in Shopify Inc. (NYSE:SHOP)

Commonwealth Equity Services LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 378,985 shares of the software maker’s stock after selling 5,183 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Shopify were worth $29,523,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DA Davidson lifted their price target on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Barclays cut their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Shopify in a research report on Wednesday, February 14th. Loop Capital dropped their price target on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.03.

Shopify Price Performance

Shares of NYSE:SHOP opened at $74.46 on Friday. The firm has a market capitalization of $95.80 billion, a price-to-earnings ratio of 827.43 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The business’s 50 day simple moving average is $74.73 and its 200-day simple moving average is $73.14. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

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 analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, equities analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Shopify Company 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.