Shopify Inc. (NYSE:SHOP) Stake Reduced by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 76.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 63,633 shares of the software maker’s stock after selling 208,763 shares during the period. Capital Group Private Client Services Inc.’s holdings in Shopify were worth $4,911,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SHOP. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the fourth quarter valued at $26,000. DSM Capital Partners LLC purchased a new stake in Shopify in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify during the 4th quarter valued at $28,000. Your Advocates Ltd. LLP raised its holdings in shares of 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, OLD Point Trust & Financial Services N A purchased a new position in Shopify in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP traded up $0.48 during trading hours on Friday, reaching $59.92. 5,253,154 shares of the company’s stock were exchanged, compared to its average volume of 10,005,120. The firm has a fifty day moving average of $63.02 and a 200-day moving average of $71.38. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $77.22 billion, a PE ratio of -352.47, a price-to-earnings-growth ratio of 3.44 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. On average, equities research analysts predict that Shopify Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on SHOP. Citigroup increased their target price on shares of Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Wells Fargo & Company decreased their target price on Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. Evercore raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, June 14th. Finally, 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 report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $77.62.

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.