Catalyst Capital Advisors LLC Sells 20,201 Shares of Shopify Inc. $SHOP

Catalyst Capital Advisors LLC decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 96.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 724 shares of the software maker’s stock after selling 20,201 shares during the period. Catalyst Capital Advisors LLC’s holdings in Shopify were worth $84,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Hummer Financial Advisory Services Inc boosted its holdings in Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock valued at $299,000 after acquiring an additional 95 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock worth $81,000 after buying an additional 100 shares during the last quarter. Moseley Investment Management Inc. boosted its holdings in Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock worth $424,000 after buying an additional 100 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Finally, Moser Wealth Advisors LLC boosted its holdings in Shopify by 1.0% during the second quarter. Moser Wealth Advisors LLC now owns 10,274 shares of the software maker’s stock worth $1,185,000 after buying an additional 100 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SHOP shares. National Bankshares raised their target price on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. JMP Securities raised their target price on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. DA Davidson raised their target price on Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Bank of America raised their target price on Shopify from $110.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Truist Financial raised their price target on Shopify from $95.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Shopify Price Performance

NASDAQ:SHOP opened at $172.95 on Friday. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $174.74. The stock has a market capitalization of $224.78 billion, a PE ratio of 96.62, a price-to-earnings-growth ratio of 8.10 and a beta of 2.72. The business’s 50-day simple moving average is $149.93 and its 200-day simple moving average is $124.17.

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