Thurston Springer Miller Herd & Titak Inc. Sells 9,520 Shares of Shopify Inc. $SHOP

Thurston Springer Miller Herd & Titak Inc. cut its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 94.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 587 shares of the software maker’s stock after selling 9,520 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Shopify were worth $87,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SHOP. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify during the second quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new stake in Shopify during the second quarter valued at $27,000. Rothschild Investment LLC grew its position in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the 3rd quarter worth $27,000. Finally, Tradewinds Capital Management LLC increased its stake in shares of Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on SHOP shares. Stifel Nicolaus set a $175.00 price target on Shopify in a report on Tuesday, November 4th. DZ Bank raised shares of Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Canaccord Genuity Group increased their target price on Shopify from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley reissued an “overweight” rating and issued a $192.00 price target (up previously from $165.00) on shares of Shopify in a research report on Wednesday, November 5th. Finally, Benchmark reissued a “buy” rating on shares of Shopify in a research report on Wednesday, December 3rd. Twenty-two investment analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Hold” and a consensus price target of $168.69.

Shopify Stock Down 0.9%

Shares of NASDAQ:SHOP opened at $161.73 on Thursday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The company has a market capitalization of $210.55 billion, a P/E ratio of 119.80, a P/E/G ratio of 6.06 and a beta of 2.82. The stock’s fifty day simple moving average is $159.45 and its 200-day simple moving average is $140.95.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

About Shopify

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.