Brighton Jones LLC Sells 674 Shares of Shopify Inc. (NYSE:SHOP)

Brighton Jones LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,101 shares of the software maker’s stock after selling 674 shares during the period. Brighton Jones LLC’s holdings in Shopify were worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Asset Management One Co. Ltd. bought a new stake in Shopify during the 3rd quarter worth approximately $47,000. Simplicity Solutions LLC increased its holdings in shares of Shopify by 13.9% in the 3rd quarter. Simplicity Solutions LLC now owns 9,097 shares of the software maker’s stock worth $496,000 after buying an additional 1,110 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Shopify by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 384,168 shares of the software maker’s stock worth $20,964,000 after buying an additional 6,066 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Shopify by 1.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 261,013 shares of the software maker’s stock worth $14,243,000 after buying an additional 4,261 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Shopify by 17.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 200,000 shares of the software maker’s stock worth $10,914,000 after buying an additional 30,000 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP opened at $70.19 on Wednesday. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market cap of $90.30 billion, a price-to-earnings ratio of 779.92 and a beta of 2.22. The company’s 50 day moving average is $74.93 and its 200 day moving average is $73.02. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on SHOP shares. Jefferies Financial Group increased their price target on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, January 5th. Mizuho upped their price objective on shares of Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Loop Capital cut their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley raised shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.62.

About Shopify

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.