1,370 Shares in Shopify Inc. (NYSE:SHOP) Bought by Pacific Capital Wealth Advisors Inc.

Pacific Capital Wealth Advisors Inc. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,370 shares of the software maker’s stock, valued at approximately $107,000.

Several other large investors also recently bought and sold shares of the stock. StoneCrest Wealth Management Inc. purchased a new stake in Shopify in the 4th quarter valued at $1,164,000. Asset Management One Co. Ltd. boosted its stake in shares of Shopify by 4,007.4% during the fourth 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 during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $433,000. Bleakley Financial Group LLC grew its holdings in shares of Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after buying an additional 1,681 shares during the last quarter. Finally, Advisor Resource Council acquired a new position in Shopify in the 4th quarter valued at about $1,488,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 18.5 %

Shopify stock traded down $14.24 during midday trading on Wednesday, hitting $62.81. The stock had a trading volume of 58,261,614 shares, compared to its average volume of 9,837,176. The business has a fifty day moving average price of $74.74 and a 200 day moving average price of $73.78. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The stock has a market cap of $80.81 billion, a P/E ratio of 697.97 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 issued its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion for 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%. Research analysts predict that Shopify Inc. will post 0.59 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on SHOP shares. Truist Financial lifted their target price on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 12th. BNP Paribas raised shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Robert W. Baird upped their price objective on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Scotiabank lifted their target price on shares of Shopify from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. Finally, Piper Sandler reissued an “underweight” rating and set a $63.00 price target on shares of Shopify in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Hold” and an average price target of $79.00.

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.