GPS Wealth Strategies Group LLC Has $728,000 Stake in Shopify Inc. $SHOP

GPS Wealth Strategies Group LLC reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 71.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,521 shares of the software maker’s stock after selling 11,071 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Shopify were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new stake in Shopify during the 4th quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shopify during the 4th quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new stake in Shopify during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC lifted its holdings in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after purchasing an additional 89 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in Shopify during the 4th quarter worth approximately $31,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $103.00 on Friday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The business’s fifty day moving average is $116.29 and its 200-day moving average is $135.86. The firm has a market cap of $133.66 billion, a price-to-earnings ratio of 101.98, a PEG ratio of 2.94 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. As a group, research analysts forecast that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHOP. Needham & Company LLC restated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $175.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Oppenheimer restated an “outperform” rating and set a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Cantor Fitzgerald restated a “neutral” rating and set a $126.00 price objective (down from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Finally, ATB Cormark Capital Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.42.

About Shopify

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.