Shopify Inc. (NYSE:SHOP) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,201 shares of the software maker’s stock after selling 609 shares during the quarter. Merit Financial Group LLC’s holdings in Shopify were worth $950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its stake in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after acquiring an additional 2,113,773 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Shopify during the third quarter worth $68,746,000. International Assets Investment Management LLC grew its stake in shares of Shopify by 6,637.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock valued at $92,592,000 after purchasing an additional 1,170,956 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Shopify in the 3rd quarter valued at $49,113,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHOP. National Bankshares boosted their target price on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. DA Davidson boosted their price objective on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research note on Tuesday, April 16th. Citigroup raised Shopify from a “neutral” rating to a “buy” rating and upped their target price for the company from $93.00 to $105.00 in a report on Monday, April 29th. Finally, Piper Sandler restated an “underweight” rating and issued a $63.00 price objective on shares of Shopify in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Hold” and an average target price of $79.00.

Shopify Stock Performance

SHOP stock opened at $74.46 on Monday. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The stock has a market capitalization of $95.80 billion, a PE ratio of 827.43 and a beta of 2.20. The stock’s 50 day simple moving average is $74.73 and its 200 day simple moving average is $73.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

About Shopify

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.