Gerber Kawasaki Wealth & Investment Management Reduces Position in Shopify Inc (SHOP)

Gerber Kawasaki Wealth & Investment Management cut its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,265 shares of the software maker’s stock after selling 100 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Shopify were worth $467,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital Financial Planning LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $26,000. We Are One Seven LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $27,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $27,000. Mackey Komara & Dankovich LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. Finally, Optimum Investment Advisors bought a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. 67.14% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on the company. Zacks Investment Research upgraded Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Wedbush restated an “outperform” rating and set a $177.00 price objective on shares of Shopify in a report on Monday, January 28th. Royal Bank of Canada raised their price objective on Shopify from $159.00 to $180.00 and gave the stock a “sector perform” rating in a report on Monday, February 11th. Canaccord Genuity raised their price objective on Shopify from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, February 12th. Finally, DA Davidson raised their price objective on Shopify from $150.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $237.71.



Shares of NYSE:SHOP traded up $18.88 on Thursday, reaching $272.03. The company had a trading volume of 904,111 shares, compared to its average volume of 1,611,968. Shopify Inc has a 52-week low of $117.64 and a 52-week high of $266.72. The company has a market capitalization of $27.68 billion, a PE ratio of -445.95 and a beta of 1.57. The company has a current ratio of 12.56, a quick ratio of 12.57 and a debt-to-equity ratio of 0.05.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.44. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The business had revenue of $320.50 million for the quarter, compared to the consensus estimate of $310.11 million. During the same period last year, the business posted $0.04 EPS. The business’s revenue was up 49.6% compared to the same quarter last year. Research analysts predict that Shopify Inc will post -1 EPS for the current year.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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