Shopify Inc. (NYSE:SHOP) Stock Position Decreased by Venture Visionary Partners LLC

Venture Visionary Partners LLC lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,016 shares of the software maker’s stock after selling 406 shares during the period. Venture Visionary Partners LLC’s holdings in Shopify were worth $5,371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC bought a new stake in shares of Shopify in the 1st quarter worth approximately $3,618,000. Silvercrest Asset Management Group LLC increased its position in Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Shopify by 5.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after buying an additional 28,639 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after acquiring an additional 1,657,251 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 0.0 %

Shares of NYSE SHOP traded down $0.02 during mid-day trading on Monday, reaching $82.66. The company had a trading volume of 5,264,124 shares, compared to its average volume of 9,271,099. The stock has a market capitalization of $106.52 billion, a PE ratio of 84.58, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock’s 50 day moving average is $76.26 and its 200-day moving average is $68.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. As a group, equities analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SHOP shares. Truist Financial reduced their target price on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Piper Sandler reiterated a “neutral” rating and set a $67.00 price objective on shares of Shopify in a research report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Shopify in a research report on Tuesday, September 10th. Royal Bank of Canada lifted their target price on Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Argus raised Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.36.

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.