Shopify Inc. (NYSE:SHOP) Shares Sold by First Bank & Trust

First Bank & Trust reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 52.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,960 shares of the software maker’s stock after selling 5,580 shares during the quarter. First Bank & Trust’s holdings in Shopify were worth $383,000 at the end of the most recent reporting period.

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

Shopify Stock Down 0.5 %

Shares of NYSE SHOP opened at $66.05 on Friday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a 50-day moving average price of $64.20 and a 200 day moving average price of $73.01. The stock has a market capitalization of $85.12 billion, a price-to-earnings ratio of -388.53, a price-to-earnings-growth ratio of 3.32 and a beta of 2.27.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SHOP shares. CIBC reduced their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a report on Thursday, May 9th. Wells Fargo & Company reduced their price objective on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. DA Davidson reduced their price objective on shares of Shopify from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Canaccord Genuity Group reduced their price objective on shares of Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Moffett Nathanson downgraded shares of Shopify from a “buy” rating to a “neutral” rating and dropped their target price for the company from $74.00 to $65.00 in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

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.