Strengthening Families & Communities LLC Sells 1,041 Shares of Shopify Inc. $SHOP

Strengthening Families & Communities LLC reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 25.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,099 shares of the software maker’s stock after selling 1,041 shares during the period. Strengthening Families & Communities LLC’s holdings in Shopify were worth $357,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SHOP. Blue Trust Inc. increased its stake in shares of Shopify by 16.0% in the 2nd quarter. Blue Trust Inc. now owns 2,759 shares of the software maker’s stock valued at $318,000 after purchasing an additional 380 shares during the last quarter. Brandywine Oak Private Wealth LLC acquired a new stake in Shopify in the second quarter valued at about $231,000. M1 Capital Management LLC bought a new position in Shopify in the second quarter valued at about $249,000. Total Wealth Planning & Management Inc. acquired a new position in Shopify during the second quarter worth about $216,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Shopify in the second quarter worth about $1,603,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen reaffirmed a “hold” rating and set a $156.00 price target on shares of Shopify in a report on Friday, October 3rd. Arete reiterated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. JMP Securities increased their price target on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Shopify in a research report on Wednesday. Finally, Loop Capital cut Shopify from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Tuesday, July 22nd. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Hold” and an average target price of $151.95.

Shopify Trading Down 7.8%

Shares of SHOP stock opened at $151.02 on Friday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $169.69. The stock has a market cap of $196.27 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 7.67 and a beta of 2.72. The stock has a 50-day moving average of $146.61 and a 200-day moving average of $119.06.

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