J.W. Cole Advisors Inc. Sells 6,994 Shares of Shopify Inc. $SHOP

J.W. Cole Advisors Inc. lowered its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 39,479 shares of the software maker’s stock after selling 6,994 shares during the period. J.W. Cole Advisors Inc.’s holdings in Shopify were worth $5,867,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SHOP. Heartwood Wealth Advisors LLC bought a new position in Shopify during the third quarter valued at approximately $27,000. Rothschild Investment LLC raised its stake in 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 buying an additional 75 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Shopify during the 2nd quarter valued at $27,000. Tradewinds Capital Management LLC boosted its stake in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Finally, Estabrook Capital Management bought a new stake in shares of Shopify in the second quarter worth $29,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $114.02 on Thursday. The stock has a market cap of $148.44 billion, a PE ratio of 84.46, a price-to-earnings-growth ratio of 3.51 and a beta of 2.83. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm has a fifty day moving average price of $156.24 and a 200-day moving average price of $151.25.

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

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. BNP Paribas Exane initiated coverage on shares of Shopify in a research report on Monday, November 24th. They set a “neutral” rating for the company. Barclays set a $140.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. DZ Bank raised shares of Shopify from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research note on Monday, December 29th. Finally, Bank of America boosted their price objective on shares of Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Twenty-five analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $171.70.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.