ORG Partners LLC Lowers Stock Position in Shopify Inc. (NYSE:SHOP)

ORG Partners LLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,147 shares of the software maker’s stock after selling 2,911 shares during the quarter. ORG Partners LLC’s holdings in Shopify were worth $1,054,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SHOP. Massmutual Trust Co. FSB ADV boosted its stake in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the period. CVA Family Office LLC boosted its stake in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the period. Willis Johnson & Associates Inc. boosted its stake in shares of Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after purchasing an additional 152 shares during the period. Finally, Guardian Asset Advisors LLC boosted its stake in shares of Shopify by 3.0% in the third quarter. Guardian Asset Advisors LLC now owns 5,582 shares of the software maker’s stock valued at $447,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Barclays raised their target price on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird raised their target price on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $78.97.

Shopify Stock Performance

NYSE:SHOP traded up $0.36 during midday trading on Monday, reaching $83.60. The stock had a trading volume of 869,659 shares, compared to its average volume of 9,369,105. The firm has a fifty day simple moving average of $74.19 and a two-hundred day simple moving average of $68.64. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market cap of $107.73 billion, a P/E ratio of 84.94, a P/E/G ratio of 2.77 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the firm posted ($0.08) EPS. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts expect that Shopify Inc. will post 0.76 EPS for the current year.

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.