Creekmur Asset Management LLC Lowers Stake in Shopify Inc. (NYSE:SHOP)

Creekmur Asset Management LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,039 shares of the software maker’s stock after selling 770 shares during the quarter. Creekmur Asset Management LLC’s holdings in Shopify were worth $805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Massmutual Trust Co. FSB ADV raised its position in Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. CVA Family Office LLC raised its position in Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares during the period. Willis Johnson & Associates Inc. raised its position in Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after purchasing an additional 149 shares during the period. Valley National Advisers Inc. raised its position in Shopify by 11.4% in the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after purchasing an additional 152 shares during the period. Finally, Wolff Wiese Magana LLC raised its position in Shopify by 5.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.4 %

Shares of Shopify stock opened at $80.07 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock has a market capitalization of $103.18 billion, a PE ratio of -472.94, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a 50-day simple moving average of $77.33 and a two-hundred day simple moving average of $69.17.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup raised their price target on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore raised their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Roth Mkm raised their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Argus raised shares of Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company raised their price target on shares of Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $80.21.

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.