Shopify Inc. (NYSE:SHOP) Stock Position Reduced by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,083 shares of the software maker’s stock after selling 8,002 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Shopify were worth $5,963,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Howland Capital Management LLC lifted its stake in Shopify by 2.0% in 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 lifted its stake in Shopify by 9.9% in 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 lifted its stake in Shopify by 2.2% in 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. lifted its stake in Shopify by 0.7% in 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. lifted its stake in Shopify by 3.3% in 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 currently owned by institutional investors and hedge funds.

Shopify Trading Down 1.3 %

NYSE:SHOP opened at $127.60 on Thursday. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a 50 day moving average of $112.68 and a 200-day moving average of $94.46. The stock has a market capitalization of $164.87 billion, a P/E ratio of 82.32, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, analysts forecast that Shopify Inc. will post 1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI raised their target price on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Finally, Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.