Shopify Inc. (NYSE:SHOP) Shares Sold by Keystone Wealth Services LLC

Keystone Wealth Services LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,562 shares of the software maker’s stock after selling 326 shares during the period. Keystone Wealth Services LLC’s holdings in Shopify were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group raised its position in shares of Shopify by 100.0% during 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. Cultivar Capital Inc. acquired a new position in shares of Shopify during the 2nd quarter worth about $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify during the 2nd quarter valued at about $39,000. Finally, Private Wealth Management Group LLC grew its stake in Shopify by 53.3% during the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SHOP shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Morgan Stanley upped their price objective on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. UBS Group upped their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Roth Mkm upped their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company upped their price objective on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.97.

Shopify Stock Down 2.1 %

Shares of SHOP traded down $1.74 during midday trading on Tuesday, reaching $81.94. The stock had a trading volume of 6,483,642 shares, compared to its average volume of 9,369,128. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company’s fifty day simple moving average is $74.81 and its two-hundred day simple moving average is $68.69. The company has a market cap of $105.59 billion, a price-to-earnings ratio of 83.61, a PEG ratio of 2.77 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned ($0.08) EPS. The company’s revenue was up 20.7% on a year-over-year basis. Equities research analysts expect that Shopify Inc. will post 0.76 earnings per share for the current year.

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.