Shopify Inc. (NYSE:SHOP) Holdings Lowered by Leeward Financial Partners LLC

Leeward Financial Partners LLC trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,995 shares of the software maker’s stock after selling 1,372 shares during the quarter. Leeward Financial Partners LLC’s holdings in Shopify were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Wealth Management Partners LLC lifted its stake in Shopify by 0.9% in the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after acquiring an additional 126 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after acquiring an additional 140 shares during the last quarter. Pachira Investments Inc. lifted its stake in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after acquiring an additional 146 shares during the last quarter. Finally, Baldwin Brothers LLC MA lifted its stake in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SHOP shares. Evercore ISI upgraded shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, June 14th. TD Securities reduced their price objective on shares of Shopify from $80.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Citigroup boosted their price objective on shares of Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Royal Bank of Canada reduced their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Canaccord Genuity Group reduced their price objective on shares of Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify Price Performance

Shares of SHOP traded up $0.72 during trading hours on Wednesday, hitting $66.78. The stock had a trading volume of 3,930,903 shares, compared to its average volume of 10,227,135. The company’s fifty day moving average is $63.92 and its two-hundred day moving average is $72.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The stock has a market capitalization of $86.06 billion, a price-to-earnings ratio of -393.71, a P/E/G ratio of 3.32 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. On average, analysts anticipate that Shopify Inc. will post 0.61 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.