Fox Hill Wealth Management Sells 135,992 Shares of Shopify Inc. $SHOP

Fox Hill Wealth Management trimmed its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 98.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,556 shares of the software maker’s stock after selling 135,992 shares during the quarter. Fox Hill Wealth Management’s holdings in Shopify were worth $250,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOP. Kingdom Financial Group LLC. bought a new stake in Shopify in the fourth quarter valued at $26,000. Curio Wealth LLC bought a new stake in Shopify in the fourth quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the fourth quarter valued at $29,000. Lodestone Wealth Management LLC bought a new stake in Shopify in the fourth quarter valued at $31,000. Finally, Sound Income Strategies LLC boosted its stake in Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after purchasing an additional 89 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 2.1%

Shares of SHOP opened at $110.47 on Friday. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The firm has a market capitalization of $143.35 billion, a PE ratio of 109.38, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. The stock’s fifty day simple moving average is $114.20 and its 200-day simple moving average is $131.77.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Analysts anticipate that Shopify Inc. will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group reduced their price objective on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.