Kovack Advisors Inc. Sells 4,694 Shares of Shopify Inc. (NYSE:SHOP)

Kovack Advisors Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 50,299 shares of the software maker’s stock after selling 4,694 shares during the quarter. Kovack Advisors Inc.’s holdings in Shopify were worth $3,918,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SHOP. StoneCrest Wealth Management Inc. bought a new stake in shares of Shopify during the 4th quarter valued at about $1,164,000. Asset Management One Co. Ltd. grew its stake in shares of 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 valued at $2,807,000 after purchasing an additional 34,624 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $433,000. Bleakley Financial Group LLC grew its stake in shares of Shopify by 18.5% during the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock valued at $840,000 after purchasing an additional 1,681 shares during the period. Finally, Advisor Resource Council bought a new stake in shares of Shopify during the 4th quarter valued at about $1,488,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 1.1 %

Shares of SHOP stock traded up $0.75 during mid-day trading on Friday, hitting $71.30. The stock had a trading volume of 4,608,453 shares, compared to its average volume of 9,337,968. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The firm has a market capitalization of $91.73 billion, a P/E ratio of 792.31 and a beta of 2.22. The firm’s 50-day moving average is $75.28 and its two-hundred day moving average is $72.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, analysts predict that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SHOP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Loop Capital lowered their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. Robert W. Baird lifted their price objective on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Morgan Stanley raised Shopify from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $74.00 to $85.00 in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price objective on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Hold” and an average target price of $78.30.

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.