Realta Investment Advisors Lowers Holdings in Shopify Inc. (NYSE:SHOP)

Realta Investment Advisors reduced its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,724 shares of the software maker’s stock after selling 1,384 shares during the period. Realta Investment Advisors’ holdings in Shopify were worth $479,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC increased its position in shares of Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after acquiring an additional 46,589 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Shopify by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock worth $15,079,000 after purchasing an additional 7,009 shares during the period. DekaBank Deutsche Girozentrale raised its position in Shopify by 5.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after purchasing an additional 28,639 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after buying an additional 1,657,251 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of Shopify stock traded up $0.78 during trading on Friday, reaching $78.99. The company’s stock had a trading volume of 6,189,927 shares, compared to its average volume of 4,674,724. The business has a 50 day moving average price of $77.54 and a 200-day moving average price of $69.38. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $91.57. The company has a market capitalization of $101.93 billion, a P/E ratio of 80.60, a price-to-earnings-growth ratio of 2.62 and a beta of 2.36. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SHOP. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Shopify in a report on Tuesday, September 10th. KeyCorp initiated coverage on Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price on the stock. Royal Bank of Canada lifted their price target on Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Wedbush reissued a “neutral” rating and set a $72.00 target price (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $81.03.

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.