Mid Atlantic Financial Management Inc. ADV Decreases Stock Holdings in Shopify Inc (NYSE:SHOP)

Share on StockTwits

Mid Atlantic Financial Management Inc. ADV trimmed its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 929 shares of the software maker’s stock after selling 64 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Shopify were worth $279,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Founders Financial Securities LLC boosted its stake in Shopify by 1.2% during the 2nd quarter. Founders Financial Securities LLC now owns 3,509 shares of the software maker’s stock worth $1,053,000 after purchasing an additional 43 shares during the last quarter. Ropes Wealth Advisors LLC raised its holdings in shares of Shopify by 41.0% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock worth $44,000 after purchasing an additional 43 shares during the period. Executive Wealth Management LLC raised its holdings in shares of Shopify by 34.6% in the 1st quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock worth $36,000 after purchasing an additional 45 shares during the period. Nadler Financial Group Inc. raised its holdings in shares of Shopify by 1.2% in the 2nd quarter. Nadler Financial Group Inc. now owns 3,985 shares of the software maker’s stock worth $1,196,000 after purchasing an additional 46 shares during the period. Finally, Welch & Forbes LLC raised its holdings in shares of Shopify by 3.4% in the 2nd quarter. Welch & Forbes LLC now owns 1,500 shares of the software maker’s stock worth $450,000 after purchasing an additional 50 shares during the period. 64.02% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on SHOP shares. Rosenblatt Securities raised their target price on Shopify from $410.00 to $481.00 and gave the company a “buy” rating in a report on Tuesday. CIBC lowered Shopify from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $260.00 to $350.00 in a research report on Thursday, June 20th. They noted that the move was a valuation call. Raymond James lifted their target price on Shopify from $270.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their target price on Shopify from $360.00 to $370.00 in a research report on Thursday, August 1st. Finally, Bank of America lifted their target price on Shopify from $185.00 to $300.00 and gave the stock an “underperform” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $329.73.

Shares of NYSE SHOP opened at $401.93 on Wednesday. The stock has a market capitalization of $42.69 billion, a price-to-earnings ratio of -658.90 and a beta of 1.30. The business has a 50-day moving average of $344.98 and a 200-day moving average of $265.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.44 and a quick ratio of 11.44. Shopify Inc has a fifty-two week low of $117.64 and a fifty-two week high of $409.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.45. The business had revenue of $361.98 million during the quarter, compared to analysts’ expectations of $350.59 million. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. Shopify’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. On average, sell-side analysts expect that Shopify Inc will post -0.82 EPS for the current year.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Featured Story: Are analyst ratings accurate?

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Patron  Price Hits $0.0002 on Major Exchanges
Patron Price Hits $0.0002 on Major Exchanges
Profile Utility Token Market Capitalization Achieves $85,220.00
Profile Utility Token Market Capitalization Achieves $85,220.00
AICHAIN  Trading Down 11.3% Over Last 7 Days
AICHAIN Trading Down 11.3% Over Last 7 Days
TEMCO  Price Tops $0.0009 on Major Exchanges
TEMCO Price Tops $0.0009 on Major Exchanges
New Residential Investment  Lowered to “Sell” at Zacks Investment Research
New Residential Investment Lowered to “Sell” at Zacks Investment Research
Sanofi SA  Given Consensus Rating of “Buy” by Brokerages
Sanofi SA Given Consensus Rating of “Buy” by Brokerages


© 2006-2019 Ticker Report