Baron Silver Stevens Financial Advisors LLC Sells 452 Shares of Shopify Inc. $SHOP

Baron Silver Stevens Financial Advisors LLC reduced its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,737 shares of the software maker’s stock after selling 452 shares during the period. Baron Silver Stevens Financial Advisors LLC’s holdings in Shopify were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Shopify in the 4th quarter valued at $314,000. Centaurus Financial Inc. grew its holdings in shares of Shopify by 15.4% in the 4th quarter. Centaurus Financial Inc. now owns 1,496 shares of the software maker’s stock worth $159,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Shopify by 1,302.7% during the 1st quarter. Versant Capital Management Inc now owns 2,567 shares of the software maker’s stock worth $245,000 after purchasing an additional 2,384 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Shopify by 38.3% during the 1st quarter. AdvisorNet Financial Inc now owns 5,822 shares of the software maker’s stock worth $556,000 after purchasing an additional 1,612 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. Wedbush upped their price objective on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. ATB Capital downgraded Shopify to a “sector perform” rating in a report on Thursday, August 7th. Scotiabank reaffirmed a “sector perform” rating and set a $150.00 price target (up from $115.00) on shares of Shopify in a report on Thursday, August 7th. Stifel Nicolaus lifted their price objective on Shopify from $110.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Finally, Mizuho increased their target price on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Twenty-three equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.69.

Shopify Stock Down 2.2%

SHOP stock opened at $140.25 on Monday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $159.01. The company has a market cap of $182.28 billion, a P/E ratio of 78.35, a price-to-earnings-growth ratio of 6.65 and a beta of 2.69. The business’s fifty day moving average is $140.00 and its 200-day moving average is $115.45.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was up 31.1% on a year-over-year basis. Research analysts anticipate that Shopify Inc. will post 1.12 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.