Franklin Street Advisors Inc. NC lessened its position in Shopify Inc. (NASDAQ:SHOP – Free Report) TSE: SHOP by 62.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,255 shares of the software maker’s stock after selling 93,448 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Shopify were worth $6,309,000 as of its most recent filing with the Securities & Exchange Commission.
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A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kingdom Financial Group LLC. purchased a new stake in Shopify in the fourth quarter worth about $26,000. Curio Wealth LLC purchased a new position in shares of Shopify during the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. lifted its holdings in shares of Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Graney & King LLC bought a new stake in shares of Shopify in the 1st quarter worth approximately $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Shopify Price Performance
Shares of SHOP opened at $151.57 on Monday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a market capitalization of $196.69 billion, a P/E ratio of 102.41, a price-to-earnings-growth ratio of 3.21 and a beta of 2.58. The firm has a 50 day moving average of $119.29 and a 200 day moving average of $119.56. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01.
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Shopify (NASDAQ:SHOP – Get Free Report) TSE: SHOP last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business had revenue of $3.58 billion for the quarter. During the same period last year, the company posted $0.69 earnings per share. The business’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Shopify Inc. will post 1.4 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Citizens Jmp raised their price objective on Shopify from $150.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday. BMO Capital Markets set a $165.00 price objective on Shopify and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Wednesday. UBS Group restated a “neutral” rating and set a $145.00 price target (up from $130.00) on shares of Shopify in a report on Thursday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Shopify in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.72.
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