Shopify Inc. (NYSE:SHOP) Shares Sold by Gleason Group Inc.

Gleason Group Inc. lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,627 shares of the software maker’s stock after selling 373 shares during the period. Gleason Group Inc.’s holdings in Shopify were worth $127,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. increased its position in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new position in Shopify during the second quarter worth approximately $27,000. Activest Wealth Management acquired a new position in Shopify during the third quarter worth approximately $33,000. Baldwin Brothers LLC MA increased its position in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its position in Shopify by 350.0% during the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHOP. Wells Fargo & Company dropped their price objective on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. TD Securities increased their price objective on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, December 6th. BNP Paribas lowered shares of Shopify from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 18th. Roth Capital increased their price objective on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler increased their price objective on shares of Shopify from $56.00 to $63.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.42.

Shopify Stock Performance

Shares of NYSE SHOP traded down $1.45 during midday trading on Friday, hitting $77.17. The company’s stock had a trading volume of 4,260,950 shares, compared to its average volume of 6,829,506. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The firm’s fifty day moving average price is $79.32 and its 200-day moving average price is $70.09. Shopify Inc. has a 1-year low of $43.50 and a 1-year high of $91.57. The firm has a market cap of $99.28 billion, a P/E ratio of 857.54 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, sell-side analysts forecast that Shopify Inc. will post 0.57 EPS for the current fiscal 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.