Central Pacific Bank Trust Division Has $31,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Central Pacific Bank Trust Division decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 93.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 393 shares of the software maker’s stock after selling 5,968 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Shopify were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group lifted its holdings in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the fourth quarter worth $28,000. Cultivar Capital Inc. bought a new stake in shares of Shopify during the 2nd quarter worth $33,000. Hazlett Burt & Watson Inc. acquired a new position in Shopify in the 2nd quarter valued at $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Shopify in the 4th quarter valued at $39,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SHOP. Citigroup upped their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays increased their target price on Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and increased their price objective for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Finally, Argus upgraded shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Shopify Stock Up 5.5 %

NYSE SHOP traded up $4.29 during trading on Friday, hitting $82.43. The stock had a trading volume of 7,746,218 shares, compared to its average volume of 9,533,966. The company has a market capitalization of $106.23 billion, a PE ratio of -484.82, a P/E/G ratio of 2.65 and a beta of 2.36. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company’s 50-day moving average price is $71.79 and its two-hundred day moving average price is $68.66. 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 (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for 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 company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, sell-side analysts forecast 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.