ASB Consultores LLC Sells 4,742 Shares of Shopify Inc. (NYSE:SHOP)

ASB Consultores LLC trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 38.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,469 shares of the software maker’s stock after selling 4,742 shares during the period. ASB Consultores LLC’s holdings in Shopify were worth $493,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SHOP. Capital World Investors boosted its holdings in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares during the period. GQG Partners LLC boosted its holdings in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after buying an additional 13,885,473 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after buying an additional 542,503 shares during the period. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SHOP shares. Citigroup decreased their price objective on shares of Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark reaffirmed a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Moffett Nathanson downgraded shares of Shopify from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $74.00 to $65.00 in a report on Thursday, June 6th. Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday. Finally, JMP Securities restated a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Shopify Stock Up 4.6 %

Shares of NYSE SHOP opened at $78.70 on Friday. The stock has a market cap of $101.42 billion, a P/E ratio of -462.94, a P/E/G ratio of 2.47 and a beta of 2.35. The firm has a 50 day moving average price of $68.13 and a 200 day moving average price of $68.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. 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, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Analysts expect that Shopify Inc. will post 0.76 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.