Brown Advisory Inc. Sells 413,606 Shares of Shopify Inc. $SHOP

Brown Advisory Inc. decreased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,744,474 shares of the software maker’s stock after selling 413,606 shares during the period. Brown Advisory Inc.’s holdings in Shopify were worth $280,812,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kingdom Financial Group LLC. bought a new stake in Shopify during the fourth quarter worth about $26,000. Curio Wealth LLC bought a new stake in Shopify during the fourth quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the fourth quarter worth about $29,000. Lloyd Advisory Services LLC. bought a new stake in Shopify during the fourth quarter worth about $31,000. Finally, Lodestone Wealth Management LLC bought a new stake in Shopify during the fourth quarter worth about $31,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SHOP shares. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Truist Financial set a $150.00 price objective on shares of Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Canaccord Genuity Group dropped their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. DA Davidson dropped their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $108.24 on Friday. The firm’s 50 day moving average price is $113.99 and its 200-day moving average price is $131.61. The company has a market cap of $140.46 billion, a PE ratio of 107.17, a P/E/G ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.