Shopify Inc. (NYSE:SHOP) Shares Sold by Creekmur Asset Management LLC

Creekmur Asset Management LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,677 shares of the software maker’s stock after selling 1,160 shares during the period. Creekmur Asset Management LLC’s holdings in Shopify were worth $824,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares in the last quarter. Capital World Investors raised its stake in shares of Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after buying an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. Finally, GQG Partners LLC grew its holdings in Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock traded up $2.00 on Wednesday, reaching $61.20. 8,323,814 shares of the stock were exchanged, compared to its average volume of 9,938,915. The stock has a market cap of $78.87 billion, a PE ratio of -360.00, a PEG ratio of 3.46 and a beta of 2.30. The firm has a fifty day moving average price of $63.13 and a two-hundred day moving average price of $70.87. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. 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 (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Sell-side analysts anticipate that Shopify Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research reports. Wells Fargo & Company reduced their price objective on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. The Goldman Sachs Group upped their price target on Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Morgan Stanley raised Shopify from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $74.00 to $85.00 in a research note on Friday, April 19th. JMP Securities raised Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, May 9th. Finally, Atb Cap Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $77.62.

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.