RMR Wealth Builders Sells 2,960 Shares of Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,727 shares of the software maker’s stock after selling 2,960 shares during the period. RMR Wealth Builders’ holdings in Shopify were worth $758,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. DA Davidson raised their target price on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Truist Financial boosted their target price on shares of Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 12th. Finally, Mizuho lifted their price target on shares of Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.00.

Shopify Stock Performance

Shares of NYSE:SHOP traded down $14.24 during mid-day trading on Wednesday, reaching $62.81. 58,261,614 shares of the company traded hands, compared to its average volume of 9,837,176. The company’s 50 day moving average price is $74.74 and its 200-day moving average price is $73.78. The firm has a market cap of $80.81 billion, a PE ratio of 697.97 and a beta of 2.20. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

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