Shopify (NYSE:SHOP) Trading Down 2% – Should You Sell?

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) was down 2% during mid-day trading on Thursday . The company traded as low as $99.73 and last traded at $102.21. Approximately 2,997,948 shares changed hands during trading, a decline of 65% from the average daily volume of 8,602,015 shares. The stock had previously closed at $104.28.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Securities lifted their price objective on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. ATB Capital boosted their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird lifted their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 5.9 %

The stock’s fifty day moving average price is $110.21 and its 200 day moving average price is $100.55. The stock has a market cap of $124.96 billion, a P/E ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Allianz SE purchased a new stake in shares of Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC boosted its stake in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Shopify during the 4th quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC increased its stake in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Shopify in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company 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.