Tidal Investments LLC reduced its holdings in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 53.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,146 shares of the software maker after selling 4,708 shares during the quarter. Tidal Investments LLC’s holdings in Shopify were worth $320,000 at the end of the last quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tradition Wealth Management LLC increased its holdings in shares of Shopify by 7.5% in the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after acquiring an additional 140 shares in the last quarter. Willis Johnson & Associates Inc. increased its holdings in shares of Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after acquiring an additional 149 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Shopify by 3.2% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after acquiring an additional 150 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Shopify by 11.4% in the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after acquiring an additional 152 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in shares of Shopify by 1.7% in the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after acquiring an additional 153 shares in the last quarter. 69.27% of the shares are currently owned by hedge funds and other institutional investors.
Analysts set new price targets
Several research analysts have recently commented on the company. Canaccord Genuity Group lowered their price target on Shopify from $90.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. UBS Group raised their price target on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial lowered their price target on Shopify from $65.00 to $55.00 and gave the company a “hold” rating in a research note on Tuesday. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price target on Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.24.
Check out our latest stock analysis in the SHOP
Shopify commerce increases by 1.1%
NYSE SHOP shares rose $0.75 during midday trading on Friday, reaching $69.30. 10,931,244 shares of the company traded hands, compared to its average volume of 10,422,090. The stock has a market cap of $89.31 billion, a price-to-earnings ratio of -407.71, a PEG ratio of 3.14 and a beta of 2.30. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $63.43 and a 200-day moving average of $69.96.
Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7. The software maker reported earnings per share of $0.26 for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Shopify’s quarterly revenue grew 20.7% year-over-year. During the same period last year, the company generated earnings per share of ($0.08). On average, sell-side analysts expect Shopify Inc. to report earnings per share of $0.62 for the current fiscal year.
Shopify Profile
(Free report)
Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, China, and Latin America. The Company’s platform enables merchants to display, manage, market, and sell their 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. It enables managing products and inventory, processing orders and payments, fulfilling and shipping orders, acquiring new buyers and building customer relationships, sourcing products, using analytics and reports, managing cash, payments and transactions, and accessing financing.
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