Hantz Financial Services Inc. Lowers Position in Shopify Inc. $SHOP

Hantz Financial Services Inc. trimmed its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,293 shares of the software maker’s stock after selling 54,680 shares during the quarter. Hantz Financial Services Inc.’s holdings in Shopify were worth $32,563,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SHOP. Kingdom Financial Group LLC. purchased a new stake in Shopify in the fourth quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shopify in the fourth quarter valued at approximately $29,000. Lodestone Wealth Management LLC purchased a new stake in Shopify in the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC grew its holdings in Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after purchasing an additional 89 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new stake in Shopify in the fourth quarter valued at approximately $31,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

NASDAQ SHOP opened at $103.00 on Monday. The company’s fifty day simple moving average is $116.29 and its 200-day simple moving average is $135.60. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The stock has a market cap of $133.66 billion, a P/E ratio of 101.98, a PEG ratio of 2.89 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. On average, research analysts expect that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SHOP. Arete Research set a $175.00 price objective on shares of Shopify in a research note on Monday, February 2nd. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $158.42.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.