One Wealth Management Investment & Advisory Services LLC Lowers Position in Shopify Inc. (NYSE:SHOP)

One Wealth Management Investment & Advisory Services LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 62.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,210 shares of the software maker’s stock after selling 8,504 shares during the period. Shopify accounts for approximately 0.7% of One Wealth Management Investment & Advisory Services LLC’s portfolio, making the stock its 24th largest holding. One Wealth Management Investment & Advisory Services LLC’s holdings in Shopify were worth $418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Moser Wealth Advisors LLC raised its position in Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. CVA Family Office LLC grew its stake in shares of Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after buying an additional 143 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC grew its stake in shares of Shopify by 3.5% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHOP. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research note on Monday, October 7th. Argus raised Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Roth Mkm raised their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Truist Financial raised their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.95.

Shopify Trading Up 5.7 %

Shares of SHOP stock opened at $115.13 on Thursday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The firm has a fifty day moving average price of $80.36 and a 200-day moving average price of $70.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The company has a market cap of $148.56 billion, a price-to-earnings ratio of 107.60, a PEG ratio of 3.64 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. As a group, equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current 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.