Shopify Inc. $SHOP Shares Sold by GWN Securities Inc.

GWN Securities Inc. reduced its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 57.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,774 shares of the software maker’s stock after selling 2,409 shares during the quarter. GWN Securities Inc.’s holdings in Shopify were worth $205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Brighton Jones LLC raised its stake in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after acquiring an additional 584 shares in the last quarter. GAMMA Investing LLC raised its stake in Shopify by 80.0% during the 1st quarter. GAMMA Investing LLC now owns 963 shares of the software maker’s stock worth $92,000 after acquiring an additional 428 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Shopify by 13.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,265 shares of the software maker’s stock worth $216,000 after acquiring an additional 274 shares in the last quarter. Mather Group LLC. raised its stake in Shopify by 127.4% during the 1st quarter. Mather Group LLC. now owns 912 shares of the software maker’s stock worth $87,000 after acquiring an additional 511 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Shopify by 269.7% during the 1st quarter. Vontobel Holding Ltd. now owns 58,222 shares of the software maker’s stock worth $5,629,000 after acquiring an additional 42,474 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on SHOP. TD Cowen reiterated a “hold” rating and set a $156.00 price target on shares of Shopify in a research note on Friday, October 3rd. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target (up from $180.00) on shares of Shopify in a research note on Tuesday. CIBC raised their price objective on shares of Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Stifel Nicolaus raised their price objective on shares of Shopify from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. Finally, Wedbush raised their price objective on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $155.35.

Shopify Stock Down 3.0%

Shares of NASDAQ:SHOP opened at $173.61 on Friday. The company has a market cap of $225.63 billion, a price-to-earnings ratio of 96.99, a PEG ratio of 8.38 and a beta of 2.72. The firm’s 50-day simple moving average is $152.94 and its 200-day simple moving average is $126.64. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. On average, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.