Sigma Planning Corp Sells 7,169 Shares of Shopify Inc. (NYSE:SHOP)

Sigma Planning Corp lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,895 shares of the software maker’s stock after selling 7,169 shares during the period. Sigma Planning Corp’s holdings in Shopify were worth $1,238,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SHOP. SJS Investment Consulting Inc. increased its position in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares in the last quarter. Baldwin Brothers LLC MA increased its position in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after buying an additional 147 shares in the last quarter. Global Trust Asset Management LLC increased its position in Shopify by 350.0% during the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after buying an additional 350 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Shopify in the 3rd quarter worth $47,000. Finally, Salem Investment Counselors Inc. raised its stake in shares of Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock worth $47,000 after purchasing an additional 556 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.3 %

SHOP stock opened at $70.57 on Tuesday. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The company has a market capitalization of $90.79 billion, a price-to-earnings ratio of 784.20 and a beta of 2.22. The business has a 50 day simple moving average of $75.98 and a two-hundred day simple moving average of $72.25.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Research analysts anticipate that Shopify Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SHOP shares. StockNews.com downgraded Shopify from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Roth Capital boosted their target price on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Wells Fargo & Company decreased their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Robert W. Baird boosted their target price on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, CIBC boosted their target price on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $78.30.

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.