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

Stephens Inc. AR reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 44,318 shares of the software maker’s stock after selling 1,781 shares during the quarter. Stephens Inc. AR’s holdings in Shopify were worth $5,112,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mountain Capital Investment Advisors Inc. increased its position in shares of Shopify by 11.9% during the second quarter. Mountain Capital Investment Advisors Inc. now owns 2,533 shares of the software maker’s stock valued at $285,000 after acquiring an additional 270 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Shopify by 1,875.0% during the second quarter. Salomon & Ludwin LLC now owns 316 shares of the software maker’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Goldstein Advisors LLC acquired a new stake in shares of Shopify during the second quarter valued at about $314,000. International Assets Investment Management LLC grew its holdings in shares of Shopify by 4.8% in the second quarter. International Assets Investment Management LLC now owns 14,682 shares of the software maker’s stock valued at $1,694,000 after purchasing an additional 671 shares in the last quarter. Finally, Woodard & Co. Asset Management Group Inc. ADV boosted its position in Shopify by 1.6% in the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 7,831 shares of the software maker’s stock valued at $903,000 after buying an additional 123 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SHOP. DA Davidson lifted their price target on shares of Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 6th. ATB Capital cut shares of Shopify to a “sector perform” rating in a report on Thursday, August 7th. TD Cowen reissued a “hold” rating and issued a $156.00 price objective on shares of Shopify in a research note on Friday, October 3rd. Finally, Benchmark reissued a “buy” rating and issued a $140.00 price objective (up from $125.00) on shares of Shopify in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.76.

Shopify Trading Down 1.3%

NASDAQ:SHOP opened at $162.64 on Wednesday. The firm has a market cap of $211.38 billion, a price-to-earnings ratio of 90.86, a price-to-earnings-growth ratio of 7.71 and a beta of 2.72. The company’s 50-day moving average is $148.61 and its two-hundred day moving average is $122.30. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. On average, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify 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.