Stratos Wealth Partners LTD. Sells 172 Shares of Shopify Inc. $SHOP

by · The Cerbat Gem

Stratos Wealth Partners LTD. cut its holdings in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,288 shares of the software maker’s stock after selling 172 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Shopify were worth $2,110,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in Shopify in the second quarter worth about $25,000. Coastline Trust Co purchased a new stake in Shopify in the second quarter worth about $29,000. Global Wealth Strategies & Associates lifted its stake in Shopify by 182.8% in the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock worth $30,000 after acquiring an additional 170 shares during the period. Smithfield Trust Co lifted its stake in Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after acquiring an additional 188 shares during the period. Finally, Dagco Inc. purchased a new stake in Shopify in the first quarter worth about $30,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 0.8%

SHOP opened at $157.76 on Monday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $169.69. The company has a market cap of $205.03 billion, a P/E ratio of 88.13, a price-to-earnings-growth ratio of 7.39 and a beta of 2.72. The firm’s 50-day moving average price is $148.00 and its 200-day moving average price is $121.40.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHOP. Oppenheimer reaffirmed an “outperform” rating and issued a $149.00 price objective on shares of Shopify in a research note on Tuesday, September 30th. UBS Group boosted their target price on shares of Shopify from $110.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Wedbush boosted their target price on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. National Bankshares boosted their target price on shares of Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Bank of America boosted their target price on shares of Shopify from $110.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $152.76.

Check Out Our Latest Stock Analysis on SHOP

Shopify Company Profile

(Free Report)

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.

See Also

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