Shopify Inc. (NYSE:SHOP) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,981 shares of the software maker’s stock after selling 8,520 shares during the period. Wedbush Securities Inc.’s holdings in Shopify were worth $1,848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moser Wealth Advisors LLC lifted its stake in shares of Shopify by 7.8% in the 2nd quarter. Moser Wealth Advisors LLC now owns 9,296 shares of the software maker’s stock worth $614,000 after acquiring an additional 670 shares during the period. Trium Capital LLP lifted its stake in shares of Shopify by 52.5% in the 2nd quarter. Trium Capital LLP now owns 49,166 shares of the software maker’s stock worth $3,247,000 after acquiring an additional 16,930 shares during the period. Ausdal Financial Partners Inc. lifted its stake in shares of Shopify by 72.4% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 4,620 shares of the software maker’s stock worth $305,000 after acquiring an additional 1,940 shares during the period. Caprock Group LLC lifted its stake in shares of Shopify by 37.5% in the 2nd quarter. Caprock Group LLC now owns 15,996 shares of the software maker’s stock worth $1,057,000 after acquiring an additional 4,365 shares during the period. Finally, Certuity LLC lifted its stake in shares of Shopify by 6.6% in the 2nd quarter. Certuity LLC now owns 19,369 shares of the software maker’s stock worth $1,281,000 after acquiring an additional 1,196 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHOP. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. KeyCorp began coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price on the stock. Cantor Fitzgerald began coverage on shares of Shopify in a report on Thursday, September 5th. They issued a “neutral” rating and a $70.00 target price on the stock. Evercore ISI boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Wolfe Research started coverage on shares of Shopify in a report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Shopify Price Performance

NYSE:SHOP opened at $68.13 on Tuesday. The stock has a market cap of $87.80 billion, a P/E ratio of -400.76, a PEG ratio of 2.25 and a beta of 2.35. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a fifty day moving average price of $67.06 and a 200 day moving average price of $68.46. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the company posted ($0.08) EPS. The business’s revenue was up 20.7% on a year-over-year basis. Analysts anticipate that Shopify Inc. will post 0.76 earnings per share 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.