Shopify Inc. $SHOP Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lessened its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,288 shares of the software maker’s stock after selling 172 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Shopify were worth $2,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Shopify by 171.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after buying an additional 267,271 shares during the period. Worth Asset Management LLC acquired a new position in Shopify in the 2nd quarter worth approximately $236,000. Avior Wealth Management LLC increased its holdings in Shopify by 32.6% in the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after buying an additional 3,347 shares during the period. 111 Capital acquired a new position in Shopify in the 2nd quarter worth approximately $1,719,000. Finally, Integrity Alliance LLC. acquired a new position in Shopify in the 1st quarter worth approximately $211,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank reiterated a “sector perform” rating and issued a $150.00 price target (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. Royal Bank Of Canada raised their price objective on shares of Shopify from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Wedbush raised their price objective on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Finally, Phillip Securities cut shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.76.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $157.76 on Monday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $169.69. The firm has a market capitalization of $205.03 billion, a price-to-earnings ratio of 88.13, a price-to-earnings-growth ratio of 7.39 and a beta of 2.72. The business’s 50 day moving average price is $148.00 and its 200-day moving average price is $121.40.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

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.