Souders Financial Advisors Sells 1,648 Shares of Shopify Inc. (NYSE:SHOP)

Souders Financial Advisors lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,933 shares of the software maker’s stock after selling 1,648 shares during the period. Souders Financial Advisors’ holdings in Shopify were worth $1,056,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SHOP. Brooklyn Investment Group acquired a new stake in Shopify in the third quarter valued at $33,000. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the 4th quarter valued at about $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Truvestments Capital LLC acquired a new position in Shopify during the third quarter worth approximately $45,000. Finally, Sierra Ocean LLC bought a new stake in Shopify in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SHOP. Mizuho lifted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Monday, February 10th. CIBC boosted their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Scotiabank upped their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

Shares of Shopify stock opened at $101.68 on Wednesday. The business has a 50-day simple moving average of $112.65 and a 200 day simple moving average of $97.53. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm has a market capitalization of $131.66 billion, a price-to-earnings ratio of 65.60, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

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.