Shopify Inc. $SHOP Shares Sold by Uhlmann Price Securities LLC

Uhlmann Price Securities LLC lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 16,233 shares of the software maker’s stock after selling 2,201 shares during the quarter. Shopify comprises approximately 1.3% of Uhlmann Price Securities LLC’s portfolio, making the stock its 13th largest holding. Uhlmann Price Securities LLC’s holdings in Shopify were worth $1,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Shopify by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock worth $4,563,106,000 after acquiring an additional 882,168 shares during the period. Mackenzie Financial Corp boosted its holdings in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after acquiring an additional 1,426,406 shares during the period. Nuveen LLC purchased a new position in Shopify in the 1st quarter worth approximately $667,392,000. Canada Pension Plan Investment Board boosted its holdings in Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock worth $565,504,000 after acquiring an additional 1,522,573 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Shopify by 21.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock worth $539,382,000 after acquiring an additional 979,598 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHOP. JMP Securities boosted their price target on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Truist Financial increased their target price on Shopify from $95.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Royal Bank Of Canada increased their target price on Shopify from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird increased their target price on Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Finally, Arete reiterated a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.76.

Shopify Price Performance

Shares of SHOP opened at $157.76 on Monday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69. The business’s fifty day moving average price is $148.00 and its 200 day moving average price is $121.40. The stock has a market capitalization of $205.03 billion, a PE ratio of 88.13, a price-to-earnings-growth ratio of 7.39 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.