Shopify Inc. (NYSE:SHOP) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 85.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 610 shares of the software maker’s stock after selling 3,481 shares during the period. Larson Financial Group LLC’s holdings in Shopify were worth $48,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its position in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. Baldwin Brothers LLC MA grew its position in shares of Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares during the period. Global Trust Asset Management LLC increased its stake in shares of Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Shopify by 1,112.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after purchasing an additional 556 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new position in shares of Shopify in the 4th quarter valued at about $51,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 2.4 %

NYSE:SHOP opened at $70.55 on Friday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $75.48 and its two-hundred day moving average is $72.38. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 783.98 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Research analysts anticipate that Shopify Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler restated an “underweight” rating and issued a $63.00 price target on shares of Shopify in a research note on Thursday, April 11th. Wedbush restated a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. Truist Financial lifted their price target on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 12th. Finally, Citigroup cut their price objective on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify 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.