Shopify Inc. (NYSE:SHOP) Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,960 shares of the software maker’s stock after selling 635 shares during the period. Optimum Investment Advisors’ holdings in Shopify were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its holdings in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after acquiring an additional 129 shares during the period. CVA Family Office LLC boosted its position in Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares in the last quarter. Willis Johnson & Associates Inc. boosted its position in Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after purchasing an additional 149 shares in the last quarter. Valley National Advisers Inc. boosted its position in Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after purchasing an additional 152 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in Shopify by 5.4% during the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after purchasing an additional 152 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on SHOP shares. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Shopify in a research report on Thursday, August 8th. Evercore increased their price target on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Truist Financial lowered their price target on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company increased their price target on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $78.97.

Shopify Trading Down 0.3 %

Shares of NYSE SHOP opened at $81.59 on Friday. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. 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 stock has a fifty day simple moving average of $75.99 and a 200-day simple moving average of $68.90. The stock has a market capitalization of $105.14 billion, a PE ratio of 83.26, a PEG ratio of 2.80 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue was up 20.7% on a year-over-year basis. On average, equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

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.