AdvisorNet Financial Inc reduced its stake in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 62.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,230 shares of the software maker's stock after selling 7,000 shares during the period. AdvisorNet Financial Inc's holdings in Shopify were worth $147,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SHOP. Trust Co. of Vermont raised its position in shares of Shopify by 950.0% during the 3rd quarter. Trust Co. of Vermont now owns 1,050 shares of the software maker's stock worth $28,000 after purchasing an additional 950 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in Shopify in the 3rd quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify in the 3rd quarter worth approximately $28,000. Mach 1 Financial Group LLC purchased a new stake in Shopify in the 3rd quarter worth approximately $28,000. Finally, Spence Asset Management purchased a new stake in Shopify in the 3rd quarter worth approximately $29,000. 56.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent analyst reports. Credit Suisse Group lifted their target price on shares of Shopify from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 16th. Loop Capital lifted their target price on shares of Shopify from $33.00 to $36.00 in a research note on Thursday, January 12th. Scotiabank began coverage on shares of Shopify in a research note on Tuesday, January 31st. They issued a "sector perform" rating and a $43.00 target price for the company. DZ Bank raised shares of Shopify from a "sell" rating to a "hold" rating in a research note on Friday, February 24th. Finally, Wolfe Research cut shares of Shopify from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 7th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of "Hold" and an average price target of $47.38.

Shopify Stock Performance

Shares of Shopify stock opened at $44.98 on Monday. The firm's 50-day simple moving average is $44.96 and its 200-day simple moving average is $37.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.07 and a current ratio of 7.07. Shopify Inc. has a 1 year low of $23.63 and a 1 year high of $75.88.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last issued its earnings results on Wednesday, February 15th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.10. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.64 billion. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. Equities research analysts forecast that Shopify Inc. will post -0.44 earnings per share for the current year.

Shopify Company Profile

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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm's platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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