D.A. Davidson & CO. Decreases Stock Holdings in Shopify Inc. (NYSE:SHOP)

D.A. Davidson & CO. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,483 shares of the software maker’s stock after selling 5,965 shares during the quarter. D.A. Davidson & CO.’s holdings in Shopify were worth $8,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Howland Capital Management LLC increased its position in shares of Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after acquiring an additional 99 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after acquiring an additional 100 shares during the last quarter. First United Bank & Trust increased its position in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after acquiring an additional 100 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after acquiring an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Shopify by 3.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after acquiring an additional 107 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Monday, February 10th. TD Securities increased their price objective on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. KeyCorp increased their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Finally, CIBC increased their price objective on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 0.7 %

SHOP opened at $129.20 on Wednesday. The company has a market cap of $166.94 billion, a P/E ratio of 120.75, a P/E/G ratio of 2.49 and a beta of 2.47. The business’s 50-day moving average price is $112.16 and its 200-day moving average price is $93.70. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. On average, equities analysts expect that Shopify Inc. will post 0.91 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.