United Capital Financial Advisers LLC trimmed its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 66.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,838 shares of the software maker’s stock after selling 11,745 shares during the period. United Capital Financial Advisers LLC’s holdings in Shopify were worth $1,752,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of Shopify by 56.9% during the first quarter. Signaturefd LLC now owns 171 shares of the software maker’s stock worth $35,000 after buying an additional 62 shares during the period. Aperio Group LLC purchased a new stake in shares of Shopify during the second quarter worth approximately $37,000. Advisors Preferred LLC purchased a new stake in shares of Shopify during the second quarter worth approximately $39,000. Ropes Wealth Advisors LLC increased its stake in shares of Shopify by 41.0% during the second quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock worth $44,000 after buying an additional 43 shares during the period. Finally, Weaver Consulting Group purchased a new stake in shares of Shopify during the first quarter worth approximately $54,000. Hedge funds and other institutional investors own 59.68% of the company’s stock.

SHOP has been the topic of a number of recent research reports. William Blair restated a “hold” rating on shares of Shopify in a research note on Tuesday, September 10th. Barclays upped their target price on shares of Shopify from $225.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, June 21st. Zacks Investment Research lowered shares of Shopify from a “hold” rating to a “sell” rating and set a $379.00 target price on the stock. in a research note on Friday, August 9th. Bank of America increased their price target on shares of Shopify from $185.00 to $300.00 and gave the company an “underperform” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group set a $300.00 price target on shares of Shopify and gave the company a “hold” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. Shopify presently has a consensus rating of “Hold” and an average target price of $335.88.

Shopify stock traded down $0.17 during mid-day trading on Thursday, hitting $325.68. The company had a trading volume of 57,182 shares, compared to its average volume of 2,562,940. The stock has a market cap of $37.69 billion, a price-to-earnings ratio of -533.73 and a beta of 1.23. Shopify Inc has a 1 year low of $117.64 and a 1 year high of $409.61. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $361.74 and a 200 day moving average of $285.48.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.45. The business had revenue of $361.98 million during the quarter, compared to the consensus estimate of $350.59 million. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. The company’s revenue was up 47.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. Equities analysts anticipate that Shopify Inc will post -0.82 earnings per share for the current year.

Shopify Company 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: Trading signals using Bollinger bands

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.