Shopify Inc. (NYSE:SHOP) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 51,399 shares of the software maker’s stock after selling 2,054 shares during the period. Metis Global Partners LLC’s holdings in Shopify were worth $4,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. purchased a new position in Shopify in the second quarter worth approximately $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify during the second quarter worth $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Shopify during the 2nd quarter worth $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 5.2 %

Shares of NYSE:SHOP opened at $109.08 on Friday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $80.36 and its 200-day simple moving average is $70.50. The company has a market cap of $140.76 billion, a price-to-earnings ratio of 101.94, a PEG ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.60% and a net margin of 16.84%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. As a group, equities research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial upped their target price on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. UBS Group boosted their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird raised their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Mizuho increased their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Company Profile

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.