ORG Partners LLC Decreases Stake in Shopify Inc. (NYSE:SHOP)

ORG Partners LLC reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,147 shares of the software maker’s stock after selling 2,911 shares during the period. ORG Partners LLC’s holdings in Shopify were worth $1,054,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify in the 2nd quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify in the 2nd quarter worth about $33,000. Private Wealth Management Group LLC boosted its position in shares of Shopify by 53.3% in the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after buying an additional 180 shares in the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Shopify in the 1st quarter worth about $42,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. Truist Financial decreased their price objective on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Piper Sandler reiterated a “neutral” rating and issued a $67.00 price objective on shares of Shopify in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Wedbush reiterated a “neutral” rating and issued a $72.00 price objective (up from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.97.

Shopify Stock Up 0.4 %

Shopify stock traded up $0.36 during midday trading on Monday, reaching $83.60. The stock had a trading volume of 869,659 shares, compared to its average volume of 9,369,105. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a market capitalization of $107.73 billion, a P/E ratio of 84.94, a PEG ratio of 2.77 and a beta of 2.36. The company has a fifty day moving average price of $74.19 and a two-hundred day moving average price of $68.64. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal 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.