Compass Wealth Management LLC Lowers Stake in Shopify Inc. (NYSE:SHOP)

Compass Wealth Management LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,200 shares of the software maker’s stock after selling 1,340 shares during the period. Compass Wealth Management LLC’s holdings in Shopify were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at $33,000. Private Wealth Management Group LLC increased its position in shares of Shopify by 53.3% in the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after acquiring an additional 180 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Shopify in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.3 %

Shares of Shopify stock opened at $81.59 on Friday. 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 firm’s 50-day moving average price is $75.99 and its 200 day moving average price is $68.90. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The firm has a market capitalization of $105.14 billion, a PE ratio of 83.26, a P/E/G ratio of 2.80 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the company posted ($0.08) EPS. The business’s revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler reissued a “neutral” rating and issued a $67.00 target price on shares of Shopify in a research report on Thursday, August 29th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Morgan Stanley upped their target price on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $78.97.

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.