Souders Financial Advisors Sells 1,648 Shares of Shopify Inc. (NYSE:SHOP)

Souders Financial Advisors cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,933 shares of the software maker’s stock after selling 1,648 shares during the quarter. Souders Financial Advisors’ holdings in Shopify were worth $1,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SHOP. Baillie Gifford & Co. increased its stake in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. FMR LLC grew its holdings in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Shopify by 6.3% in the third quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares in the last quarter. National Bank of Canada FI increased its position in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after acquiring an additional 1,621,981 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after acquiring an additional 471,280 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $101.68 on Wednesday. The firm’s 50-day moving average price is $112.65 and its 200-day moving average price is $97.53. The company has a market capitalization of $131.66 billion, a PE ratio of 65.60, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, February 18th. New Street Research began coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research report on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Finally, Truist Financial raised their price target on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify 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.