Shopify Inc. (NYSE:SHOP) Shares Sold by Realta Investment Advisors

Realta Investment Advisors cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,724 shares of the software maker’s stock after selling 1,384 shares during the period. Realta Investment Advisors’ holdings in Shopify were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Cultivar Capital Inc. purchased a new stake in Shopify during the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the second quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Shopify during the second quarter worth about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.0 %

SHOP stock traded up $0.78 during mid-day trading on Friday, hitting $78.99. 6,189,927 shares of the company were exchanged, compared to its average volume of 4,674,724. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $91.57. The firm has a market capitalization of $101.93 billion, a P/E ratio of 80.60, a PEG ratio of 2.62 and a beta of 2.36. The business has a fifty day simple moving average of $77.54 and a 200-day simple moving average of $69.38. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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. The firm 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 firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) EPS. On average, equities research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SHOP shares. Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $82.00 in a research report on Tuesday, July 16th. Royal Bank of Canada raised their target price on shares of Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Truist Financial lowered their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. KeyCorp initiated coverage on Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 price objective for the company. Finally, Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.03.

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.