Shopify Inc (NYSE:SHOP) Shares Sold by Equitable Trust Co.

Equitable Trust Co. lowered its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,391 shares of the software maker’s stock after selling 4,952 shares during the quarter. Shopify accounts for approximately 1.2% of Equitable Trust Co.’s portfolio, making the stock its 21st largest position. Equitable Trust Co.’s holdings in Shopify were worth $11,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Capital Management LP purchased a new position in shares of Shopify in the 3rd quarter worth about $31,000. Gs Investments Inc. raised its stake in Shopify by 178.6% in the 3rd quarter. Gs Investments Inc. now owns 117 shares of the software maker’s stock valued at $36,000 after acquiring an additional 75 shares during the period. Aperio Group LLC bought a new stake in Shopify in the 2nd quarter valued at about $37,000. Advisors Preferred LLC bought a new stake in Shopify in the 2nd quarter valued at about $39,000. Finally, Ropes Wealth Advisors LLC raised its stake in Shopify by 41.0% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock valued at $44,000 after acquiring an additional 43 shares during the period. 58.43% of the stock is owned by institutional investors and hedge funds.

SHOP traded up $21.34 during trading on Wednesday, reaching $372.00. The stock had a trading volume of 5,604,399 shares, compared to its average volume of 1,964,704. Shopify Inc has a one year low of $117.64 and a one year high of $409.61. The company has a current ratio of 11.21, a quick ratio of 11.21 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $317.85 and its two-hundred day moving average is $323.92. The company has a market capitalization of $38.84 billion, a price-to-earnings ratio of -609.84 and a beta of 1.18.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. The firm had revenue of $390.55 million during the quarter, compared to the consensus estimate of $384.05 million. On average, equities research analysts predict that Shopify Inc will post -1.21 earnings per share for the current year.

Several equities research analysts have recently weighed in on SHOP shares. Jefferies Financial Group set a $300.00 price target on Shopify and gave the company a “hold” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $400.00 price target on shares of Shopify in a research report on Monday, October 28th. Piper Jaffray Companies set a $320.00 price target on Shopify and gave the company a “hold” rating in a research report on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and issued a $481.00 price objective on shares of Shopify in a research report on Wednesday, October 30th. Finally, ValuEngine cut shares of Shopify from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. Shopify presently has a consensus rating of “Hold” and a consensus target price of $335.88.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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