MassMutual Private Wealth & Trust FSB Sells 117 Shares of Shopify Inc. $SHOP

MassMutual Private Wealth & Trust FSB decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,394 shares of the software maker’s stock after selling 117 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Shopify were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Juncture Wealth Strategies LLC increased its stake in Shopify by 5.5% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 3,286 shares of the software maker’s stock worth $379,000 after purchasing an additional 172 shares during the period. RMR Wealth Builders increased its stake in Shopify by 2.5% in the 2nd quarter. RMR Wealth Builders now owns 10,675 shares of the software maker’s stock worth $1,231,000 after purchasing an additional 265 shares during the period. NBC Securities Inc. increased its stake in shares of Shopify by 1.5% during the second quarter. NBC Securities Inc. now owns 9,662 shares of the software maker’s stock valued at $1,114,000 after buying an additional 145 shares during the period. Wesbanco Bank Inc. increased its stake in shares of Shopify by 1.3% during the second quarter. Wesbanco Bank Inc. now owns 89,094 shares of the software maker’s stock valued at $10,277,000 after buying an additional 1,125 shares during the period. Finally, Somerset Trust Co increased its stake in shares of Shopify by 4.6% during the second quarter. Somerset Trust Co now owns 3,636 shares of the software maker’s stock valued at $419,000 after buying an additional 159 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of several research analyst reports. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Stifel Nicolaus boosted their target price on Shopify from $110.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Arete reissued a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. Bank of America boosted their target price on Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, TD Securities boosted their target price on Shopify from $145.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Twenty-three research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.69.

Shopify Price Performance

NASDAQ:SHOP opened at $152.11 on Friday. The firm has a market capitalization of $197.69 billion, a price-to-earnings ratio of 84.98, a PEG ratio of 7.01 and a beta of 2.69. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $156.85. The business has a 50 day simple moving average of $136.50 and a 200-day simple moving average of $113.10.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify 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.