SeaCrest Wealth Management LLC Sells 670 Shares of Shopify Inc. (NYSE:SHOP)

SeaCrest Wealth Management LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,525 shares of the software maker’s stock after selling 670 shares during the period. SeaCrest Wealth Management LLC’s holdings in Shopify were worth $365,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. GQG Partners LLC lifted its position in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Norges Bank acquired a new position in shares of Shopify in the 4th quarter valued at about $1,049,089,000. Capital World Investors grew its stake in Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after buying an additional 1,983,996 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.2 %

NYSE:SHOP traded up $0.90 on Wednesday, reaching $75.77. 1,599,589 shares of the stock traded hands, compared to its average volume of 10,299,846. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $97.64 billion, a price-to-earnings ratio of -443.71, a PEG ratio of 2.40 and a beta of 2.30. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company’s fifty day simple moving average is $64.99 and its 200 day simple moving average is $69.40.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Equities analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHOP. Loop Capital raised their price target on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Moffett Nathanson lowered Shopify from a “buy” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $65.00 in a report on Thursday, June 6th. Piper Sandler boosted their price objective on Shopify from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Evercore boosted their price target on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.30.

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.