CIBC Private Wealth Group LLC Has $2.77 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 51.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,590 shares of the software maker’s stock after selling 37,789 shares during the period. CIBC Private Wealth Group LLC’s holdings in Shopify were worth $2,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. StoneCrest Wealth Management Inc. acquired a new position in Shopify during the fourth quarter valued at $1,164,000. Asset Management One Co. Ltd. raised its position in Shopify by 4,007.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after buying an additional 34,624 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Shopify during the fourth quarter valued at $433,000. Evoke Wealth LLC acquired a new position in Shopify during the fourth quarter valued at $2,551,000. Finally, Bleakley Financial Group LLC raised its position in Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock valued at $840,000 after buying an additional 1,681 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shopify stock opened at $61.58 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The company has a market capitalization of $79.36 billion, a PE ratio of -362.24, a price-to-earnings-growth ratio of 2.81 and a beta of 2.27. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business has a 50 day simple moving average of $66.49 and a 200 day simple moving average of $73.76.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. On average, sell-side analysts forecast that Shopify Inc. will post 0.59 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of recent research reports. Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $85.00 in a research note on Friday, April 19th. TD Securities lowered their target price on Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Mizuho lowered their target price on Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Citigroup lowered their target price on Shopify from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Barclays lowered their target price on Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Hold” and an average target price of $76.74.

Check Out Our Latest Research Report 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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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