Latitude Advisors LLC Sells 361 Shares of Shopify Inc. (NYSE:SHOP)

Latitude Advisors LLC cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,347 shares of the software maker’s stock after selling 361 shares during the period. Latitude Advisors LLC’s holdings in Shopify were worth $416,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the period. PCA Investment Advisory Services Inc. acquired a new stake in shares of Shopify during the second quarter worth $27,000. Baldwin Brothers LLC MA grew its stake in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the period. Global Trust Asset Management LLC grew its stake in shares of Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares during the period. Finally, Vestor Capital LLC acquired a new stake in shares of Shopify during the second quarter worth $35,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 0.2 %

Shares of SHOP stock traded up $0.13 on Wednesday, reaching $68.70. 9,249,204 shares of the company were exchanged, compared to its average volume of 6,767,313. The company has a market cap of $88.39 billion, a price-to-earnings ratio of 763.31 and a beta of 2.22. The company has a 50-day moving average of $77.45 and a 200-day moving average of $71.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Analysts anticipate that Shopify Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. StockNews.com lowered Shopify from a “hold” rating to a “sell” rating in a report on Tuesday. Roth Capital boosted their price target on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Piper Sandler restated an “underweight” rating and issued a $63.00 price target on shares of Shopify in a report on Thursday, April 11th. Finally, Loop Capital cut their price target on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.00.

About Shopify

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.