J.W. Cole Advisors Inc. Reduces Holdings in Shopify Inc. $SHOP

J.W. Cole Advisors Inc. lowered its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,479 shares of the software maker’s stock after selling 6,994 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Shopify were worth $5,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SHOP. Financial Gravity Companies Inc. purchased a new position in shares of Shopify during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC lifted its stake in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new stake in shares of Shopify during the third quarter valued at approximately $27,000. Tradewinds Capital Management LLC grew its stake in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Estabrook Capital Management bought a new position in Shopify in the second quarter worth $29,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 4.4%

NASDAQ:SHOP opened at $114.02 on Thursday. The stock has a market cap of $148.44 billion, a price-to-earnings ratio of 84.46, a PEG ratio of 3.51 and a beta of 2.83. The company’s 50 day moving average price is $156.24 and its 200-day moving average price is $151.25. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SHOP. Needham & Company LLC restated a “buy” rating and set a $180.00 target price on shares of Shopify in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. BNP Paribas Exane initiated coverage on shares of Shopify in a report on Monday, November 24th. They issued a “neutral” rating on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $198.00 target price (up from $125.00) on shares of Shopify in a report on Wednesday, December 17th. Finally, Benchmark restated a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $171.70.

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.