HBW Advisory Services LLC Sells 260 Shares of Shopify Inc. (NYSE:SHOP)

HBW Advisory Services LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,312 shares of the software maker’s stock after selling 260 shares during the period. HBW Advisory Services LLC’s holdings in Shopify were worth $346,000 as of its most recent SEC filing.

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

Shopify Stock Performance

SHOP stock opened at $82.43 on Friday. The stock’s 50 day simple moving average is $71.79 and its 200 day simple moving average is $68.60. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The stock has a market capitalization of $106.23 billion, a PE ratio of -484.88, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, research analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHOP. Evercore increased their price target on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Truist Financial reduced their target price on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Loop Capital lifted their price target on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, August 16th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $78.38.

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.