Kingswood Wealth Advisors LLC Has $254,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Kingswood Wealth Advisors LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,294 shares of the software maker’s stock after selling 938 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Shopify were worth $254,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. StoneCrest Wealth Management Inc. acquired a new stake in Shopify in the fourth quarter valued at $1,164,000. FIL Ltd grew its holdings in Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock worth $1,035,688,000 after purchasing an additional 238,596 shares during the period. Asset Management One Co. Ltd. increased its position in Shopify by 4,007.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after buying an additional 34,624 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Shopify in the fourth quarter valued at approximately $433,000. Finally, Evoke Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $2,551,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 0.5 %

SHOP opened at $66.05 on Friday. The company’s 50 day moving average price is $64.20 and its two-hundred day moving average price is $73.00. The firm has a market capitalization of $85.12 billion, a price-to-earnings ratio of -388.53, a PEG ratio of 3.29 and a beta of 2.27. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. 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 (NYSE:SHOP) (TSE:SHOP) last posted 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, research analysts predict that Shopify Inc. will post 0.61 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of a number of research analyst reports. Mizuho dropped their price target on Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Evercore upgraded shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, June 14th. Royal Bank of Canada cut their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Evercore ISI raised Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, June 14th. Finally, Moffett Nathanson cut Shopify from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $74.00 to $65.00 in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify Company 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.