Forum Financial Management LP Has $321,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Forum Financial Management LP trimmed its position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,123 shares of the software maker’s stock after selling 259 shares during the period. Forum Financial Management LP’s holdings in Shopify were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of Shopify by 16.0% during the 3rd quarter. Assetmark Inc. now owns 40,636 shares of the software maker’s stock valued at $2,218,000 after acquiring an additional 5,611 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Shopify by 68,983.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 186,526 shares of the software maker’s stock valued at $10,179,000 after acquiring an additional 186,256 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Shopify by 10.4% during the 3rd quarter. Perigon Wealth Management LLC now owns 9,694 shares of the software maker’s stock valued at $529,000 after acquiring an additional 914 shares during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Shopify during the 3rd quarter valued at $223,000. Finally, Yousif Capital Management LLC lifted its position in shares of Shopify by 1.8% during the 3rd quarter. Yousif Capital Management LLC now owns 17,395 shares of the software maker’s stock valued at $949,000 after acquiring an additional 315 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHOP. Wedbush reiterated a “neutral” rating and set a $68.00 target price on shares of Shopify in a research report on Tuesday, February 13th. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, May 7th. Citigroup dropped their price objective on Shopify from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Piper Sandler upgraded Shopify from an “underweight” rating to a “neutral” rating and set a $63.00 price objective for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada dropped their price objective on Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Shopify currently has an average rating of “Hold” and a consensus price target of $76.86.

View Our Latest Report on SHOP

Shopify Trading Down 0.3 %

Shares of SHOP stock opened at $58.76 on Tuesday. The stock has a market cap of $75.60 billion, a price-to-earnings ratio of -345.65, a PEG ratio of 2.39 and a beta of 2.20. The stock has a 50-day moving average of $73.85 and a 200-day moving average of $74.01. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 1-year low of $45.50 and a 1-year 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, topping the consensus estimate of $0.22 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. On average, equities research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current year.

Shopify Company Profile

(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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