Shopify Inc. $SHOP Shares Sold by Roundview Capital LLC

Roundview Capital LLC decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,169 shares of the software maker’s stock after selling 493 shares during the period. Roundview Capital LLC’s holdings in Shopify were worth $1,288,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Shopify by 171.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after purchasing an additional 267,271 shares during the last quarter. Worth Asset Management LLC acquired a new position in Shopify in the 2nd quarter valued at about $236,000. Avior Wealth Management LLC raised its stake in Shopify by 32.6% in the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock valued at $1,570,000 after purchasing an additional 3,347 shares during the last quarter. 111 Capital acquired a new position in Shopify in the 2nd quarter valued at about $1,719,000. Finally, Integrity Alliance LLC. acquired a new position in Shopify in the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHOP. DA Davidson upped their price objective on shares of Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Mizuho upped their price objective on shares of Shopify from $85.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Barclays upped their price objective on shares of Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Finally, JMP Securities upped their price objective on shares of Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Shopify currently has an average rating of “Hold” and a consensus price target of $151.95.

Shopify Stock Performance

SHOP opened at $161.28 on Wednesday. The firm has a 50 day moving average price of $144.26 and a 200 day moving average price of $118.06. The company has a market cap of $209.61 billion, a PE ratio of 90.10, a price-to-earnings-growth ratio of 7.70 and a beta of 2.72. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The company’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify 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.