Oxinas Partners Wealth Management LLC Cuts Holdings in Shopify Inc. (NYSE:SHOP)

Oxinas Partners Wealth Management LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,823 shares of the software maker’s stock after selling 374 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Shopify were worth $372,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Shopify by 49.4% in the 3rd quarter. Acadian Asset Management LLC now owns 9,340 shares of the software maker’s stock valued at $509,000 after purchasing an additional 3,089 shares during the last quarter. Northern Trust Corp grew its stake in shares of Shopify by 4.3% during the third quarter. Northern Trust Corp now owns 538,465 shares of the software maker’s stock worth $29,384,000 after purchasing an additional 22,315 shares in the last quarter. Ancora Advisors LLC increased its holdings in Shopify by 13.9% in the third quarter. Ancora Advisors LLC now owns 14,460 shares of the software maker’s stock valued at $789,000 after buying an additional 1,770 shares during the last quarter. Logan Capital Management Inc. raised its stake in Shopify by 1.8% in the third quarter. Logan Capital Management Inc. now owns 38,539 shares of the software maker’s stock valued at $2,103,000 after buying an additional 680 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in Shopify by 48.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 12,555 shares of the software maker’s stock worth $685,000 after buying an additional 4,104 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Up 2.2 %

NYSE:SHOP traded up $1.43 during trading hours on Tuesday, reaching $66.06. 6,020,337 shares of the company were exchanged, compared to its average volume of 10,277,030. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The stock has a 50 day simple moving average of $64.08 and a 200 day simple moving average of $72.91. The firm has a market cap of $85.13 billion, a price-to-earnings ratio of -388.59, a PEG ratio of 3.32 and a beta of 2.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, analysts predict that Shopify Inc. will post 0.61 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. DA Davidson decreased their target price on Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Mizuho dropped their target price on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Moffett Nathanson cut shares of Shopify from a “buy” rating to a “neutral” rating and reduced their price target for the company from $74.00 to $65.00 in a research report on Thursday, June 6th. Evercore raised Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, June 14th. Finally, BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

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.