Shopify Inc. (NYSE:SHOP) Shares Sold by Capital Advisors Inc. OK

Capital Advisors Inc. OK reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 8,933 shares of the software maker’s stock after selling 210 shares during the period. Capital Advisors Inc. OK’s holdings in Shopify were worth $950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. grew its position in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC lifted its stake in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock worth $658,248,000 after buying an additional 484,561 shares during the last quarter. National Bank of Canada FI raised its stake in Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Shopify by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after purchasing an additional 471,280 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 3.4 %

SHOP stock opened at $123.98 on Wednesday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $125.95. The business’s 50-day moving average is $111.05 and its two-hundred day moving average is $91.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market cap of $160.19 billion, a price-to-earnings ratio of 115.87, a P/E/G ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, analysts forecast that Shopify Inc. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SHOP. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Piper Sandler increased their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday. Finally, DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $103.80.

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.