Compass Wealth Management LLC Trims Stock Position in Shopify Inc. (NYSE:SHOP)

Compass Wealth Management LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 29.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,200 shares of the software maker’s stock after selling 1,340 shares during the quarter. Compass Wealth Management LLC’s holdings in Shopify were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group raised its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify during the 2nd quarter valued at approximately $33,000. Private Wealth Management Group LLC raised its position in shares of Shopify by 53.3% during the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after buying an additional 180 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new stake in Shopify in the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $81.59 on Friday. 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 $105.14 billion, a P/E ratio of 83.26, a PEG ratio of 2.80 and a beta of 2.36. The business has a 50 day simple moving average of $75.99 and a 200-day simple moving average of $68.90. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

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

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research reports. Wedbush reiterated a “neutral” rating and issued a $72.00 target price (up previously from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 target price on shares of Shopify in a report on Thursday, August 8th. KeyCorp initiated coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Finally, Loop Capital lifted their target price on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $78.97.

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.