JGP Wealth Management LLC Has $316,000 Position in Shopify Inc. (NYSE:SHOP)

JGP Wealth Management LLC cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,787 shares of the software maker’s stock after selling 180 shares during the period. JGP Wealth Management LLC’s holdings in Shopify were worth $316,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SHOP. Private Wealth Management Group LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify in the 4th quarter worth approximately $28,000. Your Advocates Ltd. LLP lifted its position in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Shopify in the 4th quarter worth approximately $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price on shares of Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Barclays boosted their price target on shares of Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and boosted their price target for the company from $78.00 to $82.00 in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $77.24.

Shopify Trading Up 1.1 %

Shares of NYSE SHOP traded up $0.75 during mid-day trading on Friday, hitting $69.30. The stock had a trading volume of 10,931,244 shares, compared to its average volume of 10,422,090. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The business has a 50 day moving average price of $63.43 and a two-hundred day moving average price of $69.89. The firm has a market cap of $89.31 billion, a P/E ratio of -407.65, a price-to-earnings-growth ratio of 3.14 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. On average, equities analysts anticipate that Shopify Inc. will post 0.62 EPS for the current fiscal year.

Shopify 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.