BluePath Capital Management LLC Sells 297 Shares of Shopify Inc. (NYSE:SHOP)

BluePath Capital Management LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,327 shares of the software maker’s stock after selling 297 shares during the period. BluePath Capital Management LLC’s holdings in Shopify were worth $488,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC bought a new stake in shares of Shopify during the fourth quarter worth about $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. DSM Capital Partners LLC purchased a new position in shares of Shopify during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp bought a new stake in Shopify during the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP raised its position in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 1.1 %

Shares of SHOP traded up $0.72 on Wednesday, hitting $66.78. 3,930,903 shares of the stock traded hands, compared to its average volume of 10,227,135. The company has a market capitalization of $86.06 billion, a PE ratio of -393.71, a P/E/G ratio of 3.32 and a beta of 2.30. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The business has a 50 day simple moving average of $63.92 and a 200 day simple moving average of $72.83.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. As a group, equities analysts forecast that Shopify Inc. will post 0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on SHOP shares. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Royal Bank of Canada lowered their price target on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Citigroup increased their price objective on Shopify from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group boosted their target price on Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

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.