Realta Investment Advisors Sells 183 Shares of Shopify Inc. $SHOP

Realta Investment Advisors trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 4,582 shares of the software maker’s stock after selling 183 shares during the quarter. Realta Investment Advisors’ holdings in Shopify were worth $529,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock valued at $4,563,106,000 after purchasing an additional 882,168 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after purchasing an additional 1,426,406 shares during the period. Nuveen LLC bought a new stake in shares of Shopify in the 1st quarter valued at about $667,392,000. Canada Pension Plan Investment Board raised its holdings in Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after acquiring an additional 1,522,573 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock valued at $539,382,000 after acquiring an additional 979,598 shares during the period. 69.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JMP Securities increased their price target on shares of Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. DA Davidson increased their price target on shares of Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price target on shares of Shopify and gave the company a “neutral” rating in a report on Wednesday, August 27th. Finally, UBS Group increased their price target on shares of Shopify from $110.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $150.59.

Shopify Stock Performance

Shares of SHOP opened at $161.14 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $162.60. The stock has a market capitalization of $209.43 billion, a price-to-earnings ratio of 90.02, a PEG ratio of 7.64 and a beta of 2.72. The stock has a fifty day moving average of $142.78 and a 200-day moving average of $117.23.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company earned $0.26 EPS. Shopify’s revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

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.