Oxinas Partners Wealth Management LLC Sells 340 Shares of Shopify Inc. (NYSE:SHOP)

Oxinas Partners Wealth Management LLC decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.8% during the third quarter, HoldingsChannel.com reports. The firm owned 3,133 shares of the software maker’s stock after selling 340 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Shopify were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC bought a new position in Shopify during the 1st quarter valued at about $3,618,000. Silvercrest Asset Management Group LLC grew its position in Shopify by 735.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after buying an additional 28,639 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after buying an additional 1,657,251 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Argus upgraded Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective 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. Piper Sandler restated a “neutral” rating and set a $67.00 target price on shares of Shopify in a research report on Thursday, August 29th. KeyCorp assumed coverage on shares of Shopify in a report on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price for the company. Finally, Roth Mkm lifted their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Stock Down 2.1 %

Shares of SHOP opened at $81.94 on Wednesday. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a market cap of $105.59 billion, a PE ratio of 83.61, a P/E/G ratio of 2.77 and a beta of 2.36. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $75.37 and a 200 day moving average of $68.72.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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 company 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 firm posted ($0.08) EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts expect 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.