Shopify Inc. (NYSE:SHOP) Shares Sold by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC trimmed its position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 3.2% during the 4th quarter, reports. The firm owned 5,455 shares of the software maker’s stock after selling 180 shares during the period. Clay Northam Wealth Management LLC’s holdings in Shopify were worth $425,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Shopify in the 4th quarter valued at about $414,365,000. Artisan Partners Limited Partnership lifted its holdings in shares of Shopify by 78.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after acquiring an additional 2,113,773 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Shopify during the 2nd quarter worth approximately $129,735,000. Marshall Wace LLP increased its holdings in Shopify by 44.1% in the 2nd quarter. Marshall Wace LLP now owns 4,601,132 shares of the software maker’s stock valued at $297,233,000 after purchasing an additional 1,407,400 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Shopify in the third quarter valued at approximately $68,746,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.1 %

SHOP stock traded up $0.05 during midday trading on Thursday, hitting $75.69. The stock had a trading volume of 928,522 shares, compared to its average volume of 9,571,898. The company’s 50-day moving average price is $79.06 and its 200 day moving average price is $70.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm has a market cap of $97.38 billion, a PE ratio of 840.65 and a beta of 2.22. Shopify Inc. has a 12-month low of $43.50 and a 12-month high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, equities research analysts predict that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SHOP. Wells Fargo & Company dropped their price objective on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. ATB Capital increased their price target on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. TD Securities lifted their price objective on shares of Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. Finally, Piper Sandler boosted their price target on shares of Shopify from $56.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.38.

Read Our Latest Research Report on Shopify

About Shopify

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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