Shopify Inc. (NYSE:SHOP) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,484 shares of the software maker’s stock after selling 4,934 shares during the quarter. Sunbelt Securities Inc.’s holdings in Shopify were worth $1,041,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Private Wealth Management Group LLC acquired a new position in Shopify during the fourth quarter worth $26,000. SJS Investment Consulting Inc. grew its holdings in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC acquired a new stake in Shopify during the fourth quarter worth about $28,000. Jones Financial Companies Lllp purchased a new position in Shopify during the fourth quarter worth about $28,000. Finally, Your Advocates Ltd. LLP boosted its holdings in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP opened at $66.39 on Friday. The business has a 50-day moving average price of $64.33 and a 200 day moving average price of $73.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Equities analysts predict that Shopify Inc. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SHOP. Citigroup raised their price target on shares of Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays dropped their price target on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Mizuho decreased their price objective on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Wells Fargo & Company decreased their price target on Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Finally, Benchmark reaffirmed a “hold” rating on shares of Shopify in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.42.

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.