Shopify Inc. $SHOP Shares Sold by Watershed Private Wealth LLC

Watershed Private Wealth LLC reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 27.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,480 shares of the software maker’s stock after selling 3,650 shares during the period. Watershed Private Wealth LLC’s holdings in Shopify were worth $1,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norris Financial Group LLC purchased a new stake in shares of Shopify during the 1st quarter valued at approximately $1,586,000. Infusive Asset Management Inc. lifted its holdings in Shopify by 27.4% in the first quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock valued at $5,173,000 after acquiring an additional 9,374 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Shopify by 18.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock valued at $6,876,000 after acquiring an additional 9,096 shares during the last quarter. Ninepoint Partners LP acquired a new position in Shopify in the second quarter valued at approximately $29,027,000. Finally, The Manufacturers Life Insurance Company grew its position in Shopify by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock worth $998,137,000 after acquiring an additional 660,198 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on SHOP. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 target price (up from $180.00) on shares of Shopify in a research note on Friday, October 16th. Stifel Nicolaus set a $210.00 target price on Shopify and gave the company a “buy” rating in a research report on Wednesday, October 14th. Rothschild & Co Redburn set a $130.00 price target on Shopify and gave the company a “neutral” rating in a research note on Tuesday, July 21st. National Bank Financial reiterated an “outperform” rating and set a $180.00 price target (up from $155.00) on shares of Shopify in a report on Wednesday, August 5th. Finally, UBS Group reiterated a “neutral” rating and set a $145.00 price target (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.92.

Shopify Trading Down 8.7%

Shares of SHOP stock opened at $142.57 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. The stock has a market capitalization of $183.44 billion, a P/E ratio of 96.33, a price-to-earnings-growth ratio of 3.23 and a beta of 2.65. The company has a 50 day moving average price of $152.77 and a 200 day moving average price of $130.13. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $180.88.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The company had revenue of $3.74 billion for the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. Shopify’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts predict that Shopify Inc. will post 1.46 EPS for the current fiscal year.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Third-quarter revenue rose 32% to about $3.74 billion, while earnings of $0.49 per share beat estimates. Operating income also climbed 66%, and the company’s fourth-quarter outlook was described as upbeat. Why Shopify Stock Dove Today
• Positive Sentiment: Shopify highlighted continued AI-commerce momentum: traffic from AI sources increased 2.6 times, and Shop Pay gross merchandise volume rose 50%. Management said shopping through AI channels is growing quickly. Shopify Q3 Earnings Call Highlights
• Neutral Sentiment: The company reported $119.1 billion in gross merchandise volume, up 29% year over year. That reflects solid business growth, but fell just short of Wall Street’s roughly $120 billion estimate. Shopify falls after Q3 results
• Negative Sentiment: The slight GMV shortfall, alongside misses on revenue and subscription revenue versus some analyst estimates, appears to have outweighed the earnings beat. Investors also reacted to concerns about profitability and spending, including AI computing costs and infrastructure investment ahead of the holiday season. Shopify Stock Plunges As Q3 Gross Operating Profit, Revenue Miss

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.