SRS Capital Advisors Inc. Sells 179 Shares of Shopify Inc. (NYSE:SHOP)

SRS Capital Advisors Inc. trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,549 shares of the software maker’s stock after selling 179 shares during the period. SRS Capital Advisors Inc.’s holdings in Shopify were worth $199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. raised its position in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the period. Baldwin Brothers LLC MA grew its stake in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares in the last quarter. Global Trust Asset Management LLC grew its stake in Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after acquiring an additional 350 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in Shopify by 1,112.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after acquiring an additional 556 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Shopify during the fourth quarter valued at $51,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $2.46 during midday trading on Friday, reaching $74.46. The company’s stock had a trading volume of 7,346,442 shares, compared to its average volume of 7,882,916. The firm has a market capitalization of $95.80 billion, a PE ratio of 827.54 and a beta of 2.20. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The stock has a fifty day moving average of $74.77 and a 200 day moving average of $73.00. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, equities analysts expect that Shopify Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHOP. Roth Capital raised their target price on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Piper Sandler reaffirmed an “underweight” rating and set a $63.00 target price on shares of Shopify in a research note on Thursday, April 11th. UBS Group lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Jefferies Financial Group lifted their price objective on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, January 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.03.

Shopify Company 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.