Solidarity Wealth LLC Sells 11,150 Shares of Shopify Inc. (NYSE:SHOP)

Solidarity Wealth LLC trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 80.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,782 shares of the software maker’s stock after selling 11,150 shares during the period. Solidarity Wealth LLC’s holdings in Shopify were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Private Wealth Management Group LLC acquired a new stake in Shopify during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its stake in 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 acquired a new position in Shopify during the fourth quarter worth about $28,000. Your Advocates Ltd. LLP raised its stake in Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares in the last quarter. Finally, Baldwin Brothers LLC MA grew its holdings in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP traded down $0.06 during trading hours on Thursday, hitting $58.31. The stock had a trading volume of 2,301,300 shares, compared to its average volume of 10,317,353. The firm has a 50-day moving average price of $69.01 and a 200 day moving average price of $74.13. 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 fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. As a group, research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Roth Capital upped their target price on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company lowered their price target on Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Truist Financial upped their price objective on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 12th. Robert W. Baird cut their target price on Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Citigroup cut their target price on Shopify from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.06.

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.