Shopify Inc. (NYSE:SHOP) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,076 shares of the software maker’s stock after selling 134 shares during the quarter. Good Life Advisors LLC’s holdings in Shopify were worth $1,689,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SHOP. Massmutual Trust Co. FSB ADV grew its holdings in shares of Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. CVA Family Office LLC boosted its stake in Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the period. Willis Johnson & Associates Inc. increased its position in shares of Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after acquiring an additional 149 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Shopify by 11.4% in the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after acquiring an additional 152 shares during the period. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Shopify by 5.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after acquiring an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SHOP shares. Benchmark reiterated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Morgan Stanley boosted their price objective on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Shopify in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, UBS Group raised 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. One equities research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Price Performance

SHOP stock opened at $81.59 on Friday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $105.14 billion, a P/E ratio of 83.26, a PEG ratio of 2.80 and a beta of 2.36. The business has a 50 day simple moving average of $75.99 and a 200-day simple moving average of $68.90. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned ($0.08) EPS. Shopify’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts anticipate that Shopify Inc. will post 0.76 EPS 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.