Shopify Inc. $SHOP Shares Sold by Stephens Inc. AR

Stephens Inc. AR lessened its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,206 shares of the software maker’s stock after selling 4,112 shares during the quarter. Stephens Inc. AR’s holdings in Shopify were worth $5,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Accurate Wealth Management LLC boosted its stake in shares of Shopify by 2.0% in the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after buying an additional 67 shares in the last quarter. Rothschild Investment LLC lifted its holdings in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock worth $1,228,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Shopify by 13.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in shares of Shopify by 6.5% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 1,315 shares of the software maker’s stock worth $195,000 after purchasing an additional 80 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays set a $140.00 price objective on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. DZ Bank raised Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. CIBC restated an “outperform” rating on shares of Shopify in a report on Wednesday, November 5th. BMO Capital Markets raised their price objective on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Finally, Citigroup reiterated a “market outperform” rating on shares of Shopify in a research report on Thursday, December 4th. Twenty-four investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $171.61.

Shopify Price Performance

Shares of Shopify stock opened at $157.99 on Friday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The business has a 50 day moving average price of $159.98 and a 200 day moving average price of $149.03. The company has a market capitalization of $205.68 billion, a P/E ratio of 117.03, a P/E/G ratio of 4.65 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.