Shopify Inc. (NYSE:SHOP) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,299 shares of the software maker’s stock after selling 4,694 shares during the quarter. Kovack Advisors Inc.’s holdings in Shopify were worth $3,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. K.J. Harrison & Partners Inc purchased a new stake in Shopify during the 4th quarter worth about $404,000. Blodgett Wealth Advisors LLC purchased a new stake in Shopify during the 4th quarter worth about $243,000. Boyd Watterson Asset Management LLC OH lifted its holdings in Shopify by 4.7% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 27,652 shares of the software maker’s stock worth $2,154,000 after buying an additional 1,243 shares during the last quarter. Callan Capital LLC purchased a new stake in Shopify during the 4th quarter worth about $380,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Shopify by 187.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,599 shares of the software maker’s stock worth $358,000 after buying an additional 3,000 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP traded up $0.75 on Friday, reaching $71.30. The stock had a trading volume of 4,608,453 shares, compared to its average volume of 9,337,968. The firm has a market capitalization of $91.73 billion, a PE ratio of 792.31 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $75.28 and a 200 day moving average of $72.50. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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 for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Sell-side analysts expect that Shopify Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SHOP shares. Robert W. Baird lifted their price target on Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group boosted their target price on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, January 5th. Loop Capital reduced their target price on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, DA Davidson boosted their target price on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.30.

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.