Ferguson Wellman Capital Management Inc. Sells 951 Shares of Shopify Inc. $SHOP

Ferguson Wellman Capital Management Inc. trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 28.0% during the second quarter, Holdings Channel reports. The institutional investor owned 2,450 shares of the software maker’s stock after selling 951 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Shopify were worth $283,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new position in shares of Shopify in the 2nd quarter worth $25,000. Global Wealth Strategies & Associates boosted its position in shares of Shopify by 182.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock worth $30,000 after purchasing an additional 170 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Shopify in the 4th quarter worth $30,000. Smithfield Trust Co boosted its position in shares of Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after purchasing an additional 188 shares during the last quarter. Finally, Dagco Inc. bought a new position in shares of Shopify in the 1st quarter worth $30,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SHOP. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 6th. Bank of America raised their price target on Shopify from $110.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. National Bankshares lifted their target price on Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. BMO Capital Markets lifted their target price on Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, TD Securities lifted their target price on Shopify from $145.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $151.69.

Shopify Price Performance

Shares of Shopify stock opened at $152.11 on Friday. The firm has a market cap of $197.69 billion, a price-to-earnings ratio of 84.98, a price-to-earnings-growth ratio of 7.01 and a beta of 2.69. The stock’s 50-day moving average is $136.50 and its 200-day moving average is $113.10. Shopify Inc. has a one year low of $69.84 and a one year high of $156.85.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. On average, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Shopify Company 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.