Wellington Shields Capital Management LLC Sells 800 Shares of Shopify Inc. (NYSE:SHOP)

Wellington Shields Capital Management LLC lowered its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,500 shares of the software maker’s stock after selling 800 shares during the period. Wellington Shields Capital Management LLC’s holdings in Shopify were worth $1,024,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Tradition Wealth Management LLC lifted its holdings in Shopify by 7.5% in the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after purchasing an additional 140 shares during the last quarter. Willis Johnson & Associates Inc. grew its holdings in Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Shopify by 3.2% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock valued at $377,000 after purchasing an additional 150 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after buying an additional 152 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Shopify by 1.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 12,890 shares of the software maker’s stock worth $1,004,000 after buying an additional 160 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 1.5 %

Shares of SHOP stock traded down $1.03 on Friday, hitting $69.08. 586,176 shares of the stock were exchanged, compared to its average volume of 9,925,477. The firm has a market capitalization of $89.02 billion, a P/E ratio of -412.35, a price-to-earnings-growth ratio of 2.48 and a beta of 2.35. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The business has a 50-day moving average of $66.97 and a 200 day moving average of $68.73. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on Shopify from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. UBS Group boosted their price target on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Canaccord Genuity Group decreased their price objective on shares of Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Piper Sandler restated a “neutral” rating and issued a $67.00 target price on shares of Shopify in a research note on Thursday, August 29th. Finally, Wolfe Research began coverage on shares of Shopify in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

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.