ASB Consultores LLC Cuts Stock Position in Shopify Inc. (NYSE:SHOP)

ASB Consultores LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,918 shares of the software maker’s stock after selling 1,551 shares during the period. ASB Consultores LLC’s holdings in Shopify were worth $474,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after acquiring an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the last quarter. Twin Peaks Wealth Advisors LLC raised its position in Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after purchasing an additional 145 shares during the period. Finally, Wolff Wiese Magana LLC lifted its stake in Shopify by 5.4% in the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of a number of recent research reports. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. Roth Mkm boosted their price objective on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Scotiabank raised their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Finally, Evercore lifted their target price on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.03.

Shopify Trading Down 0.7 %

NYSE SHOP opened at $78.44 on Tuesday. The stock’s fifty day moving average price is $77.61 and its 200-day moving average price is $69.45. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market cap of $101.22 billion, a P/E ratio of 80.04, a P/E/G ratio of 2.64 and a beta of 2.36. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $91.57.

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

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.