Shopify Inc. $SHOP Stock: WealthCare Asset Management LLC Decreases Position

WealthCare Asset Management LLC trimmed its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 31.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,358 shares of the software maker’s stock after selling 5,686 shares during the quarter. Shopify makes up 1.6% of WealthCare Asset Management LLC’s portfolio, making the stock its 18th biggest holding. WealthCare Asset Management LLC’s holdings in Shopify were worth $1,833,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Signal Advisors Wealth LLC increased its position in shares of Shopify by 0.5% in the third quarter. Signal Advisors Wealth LLC now owns 12,589 shares of the software maker’s stock valued at $1,867,000 after buying an additional 60 shares in the last quarter. Midway Capital Research & Management raised its stake in shares of Shopify by 0.5% during the 3rd quarter. Midway Capital Research & Management now owns 14,008 shares of the software maker’s stock worth $2,077,000 after buying an additional 65 shares during the last quarter. Eagle Wealth Advisors LLC boosted its position in shares of Shopify by 3.0% in the 3rd quarter. Eagle Wealth Advisors LLC now owns 2,330 shares of the software maker’s stock worth $346,000 after buying an additional 67 shares in the last quarter. Tsfg LLC boosted its position in shares of Shopify by 4.0% in the 2nd quarter. Tsfg LLC now owns 2,028 shares of the software maker’s stock worth $232,000 after buying an additional 78 shares in the last quarter. Finally, Obermeyer Wealth Partners boosted its position in shares of Shopify by 2.8% in the 3rd quarter. Obermeyer Wealth Partners now owns 2,955 shares of the software maker’s stock worth $438,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 0.3%

SHOP opened at $168.18 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The stock has a market capitalization of $216.39 billion, a price-to-earnings ratio of 113.64, a price-to-earnings-growth ratio of 3.48 and a beta of 2.62. The business has a 50-day moving average of $151.11 and a two-hundred day moving average of $130.31. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, research analysts expect that Shopify Inc. will post 1.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHOP. Wells Fargo & Company reissued an “overweight” rating and issued a $180.00 price objective (up from $144.00) on shares of Shopify in a research note on Friday, August 7th. Cantor Fitzgerald lifted their target price on shares of Shopify from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, October 12th. Canaccord Genuity Group set a $180.00 target price on shares of Shopify and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Mizuho set a $180.00 price target on shares of Shopify in a report on Thursday, September 24th. Finally, Citigroup reiterated an “outperform” rating on shares of Shopify in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.28.

Shopify Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.