Shopify Inc. (NYSE:SHOP) Shares Sold by Concord Wealth Partners

Concord Wealth Partners lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 429 shares of the software maker’s stock after selling 200 shares during the period. Concord Wealth Partners’ holdings in Shopify were worth $33,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. StoneCrest Wealth Management Inc. acquired a new stake in shares of Shopify during the fourth quarter worth about $1,164,000. Asset Management One Co. Ltd. lifted its holdings in Shopify by 4,007.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after buying an additional 34,624 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Shopify during the 4th quarter worth approximately $433,000. Bleakley Financial Group LLC boosted its position in Shopify by 18.5% in the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock valued at $840,000 after buying an additional 1,681 shares during the period. Finally, Advisor Resource Council acquired a new position in shares of Shopify in the fourth quarter worth $1,488,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of a number of recent research reports. Mizuho lifted their target price on Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. DA Davidson upped their target price on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. CIBC raised their target price on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Wells Fargo & Company lowered their price target on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Finally, UBS Group increased their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Hold” and a consensus price target of $79.03.

Shopify Stock Up 3.4 %

Shopify stock opened at $74.47 on Friday. The stock has a 50 day moving average of $74.77 and a two-hundred day moving average of $73.00. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The stock has a market capitalization of $95.81 billion, a price-to-earnings ratio of 827.54 and a beta of 2.20. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (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. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, research analysts expect that Shopify Inc. will post 0.59 earnings per share for the current 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.