Shopify Inc. $SHOP Shares Sold by B.O.S.S. Retirement Advisors LLC

B.O.S.S. Retirement Advisors LLC cut its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,958 shares of the software maker’s stock after selling 676 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Shopify were worth $1,149,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SHOP. Family Legacy Financial Solutions LLC acquired a new position in Shopify in the 2nd quarter valued at $25,000. Coastline Trust Co acquired a new position in Shopify in the 2nd quarter valued at $29,000. Smithfield Trust Co raised its holdings in Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after acquiring an additional 188 shares during the last quarter. Dagco Inc. acquired a new position in Shopify in the 1st quarter valued at $30,000. Finally, Global Wealth Strategies & Associates raised its holdings in Shopify by 182.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after acquiring an additional 170 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

NASDAQ:SHOP opened at $149.57 on Thursday. The firm has a 50-day moving average of $141.46 and a two-hundred day moving average of $116.29. The stock has a market cap of $194.39 billion, a P/E ratio of 83.56, a PEG ratio of 7.04 and a beta of 2.72. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $159.01.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. As a group, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several analyst reports. Arete Research upgraded Shopify to a “hold” rating in a report on Wednesday, July 23rd. Zacks Research upgraded Shopify to a “hold” rating in a report on Tuesday, August 12th. Robert W. Baird upped their price objective on Shopify from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Phillip Securities downgraded Shopify from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 12th. Finally, JMP Securities upped their price objective on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Twenty-three equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $150.83.

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.