Gerber Kawasaki Wealth & Investment Management trimmed its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,265 shares of the software maker’s stock after selling 100 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Shopify were worth $467,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in SHOP. Executive Wealth Management LLC lifted its holdings in shares of Shopify by 34.6% during the first quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Shopify by 7.4% during the fourth quarter. Proficio Capital Partners LLC now owns 1,079 shares of the software maker’s stock valued at $149,000 after purchasing an additional 74 shares in the last quarter. Avitas Wealth Management LLC lifted its holdings in shares of Shopify by 0.8% during the first quarter. Avitas Wealth Management LLC now owns 9,893 shares of the software maker’s stock valued at $2,044,000 after purchasing an additional 76 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of Shopify by 70.6% during the first quarter. TCI Wealth Advisors Inc. now owns 186 shares of the software maker’s stock valued at $38,000 after purchasing an additional 77 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its holdings in shares of Shopify by 1.6% during the first quarter. Thoroughbred Financial Services LLC now owns 5,214 shares of the software maker’s stock valued at $1,077,000 after purchasing an additional 82 shares in the last quarter. 67.14% of the stock is currently owned by institutional investors and hedge funds.
SHOP traded up $18.88 during midday trading on Thursday, reaching $272.03. The company had a trading volume of 904,111 shares, compared to its average volume of 1,611,968. The company has a quick ratio of 12.57, a current ratio of 12.56 and a debt-to-equity ratio of 0.05. The stock has a market cap of $27.68 billion, a price-to-earnings ratio of -445.95 and a beta of 1.57. Shopify Inc has a 1 year low of $117.64 and a 1 year high of $266.72.
Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.44. The business had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The business’s quarterly revenue was up 49.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 earnings per share. On average, equities analysts anticipate that Shopify Inc will post -1 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on SHOP shares. Royal Bank of Canada upped their price target on Shopify from $159.00 to $180.00 and gave the company a “sector perform” rating in a report on Monday, February 11th. Zacks Investment Research downgraded Shopify from a “hold” rating to a “strong sell” rating in a report on Monday, February 18th. Wells Fargo & Co upped their price objective on Shopify from $175.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. Macquarie upped their price objective on Shopify to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up previously from $200.00) on shares of Shopify in a research report on Monday, April 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $237.71.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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