Blueshift Asset Management LLC Sells 5,727 Shares of Shopify Inc. $SHOP

Blueshift Asset Management LLC decreased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 66.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,842 shares of the software maker’s stock after selling 5,727 shares during the quarter. Blueshift Asset Management LLC’s holdings in Shopify were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC raised its position in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Prosperity Consulting Group LLC increased its stake in Shopify by 1.5% in the second quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker’s stock valued at $693,000 after purchasing an additional 90 shares in the last quarter. Hummer Financial Advisory Services Inc raised its holdings in Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after purchasing an additional 95 shares during the period. Lakeridge Wealth Management LLC boosted its position in shares of Shopify by 1.5% during the second quarter. Lakeridge Wealth Management LLC now owns 6,656 shares of the software maker’s stock worth $768,000 after purchasing an additional 97 shares in the last quarter. Finally, SouthState Corp boosted its position in shares of Shopify by 3.7% during the second quarter. SouthState Corp now owns 2,768 shares of the software maker’s stock worth $319,000 after purchasing an additional 99 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NASDAQ SHOP opened at $160.00 on Thursday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The stock’s 50 day moving average price is $157.69 and its two-hundred day moving average price is $136.94. The stock has a market capitalization of $208.29 billion, a price-to-earnings ratio of 118.52, a PEG ratio of 5.79 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SHOP. TD Securities raised their price objective on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Mizuho increased their price target on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. BNP Paribas Exane initiated coverage on Shopify in a report on Monday, November 24th. They set a “neutral” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $181.00 target price (up from $156.00) on shares of Shopify in a research note on Wednesday, November 5th. Finally, Benchmark restated a “buy” rating on shares of Shopify in a report on Wednesday. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-four have issued a Hold rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Hold” and a consensus price target of $166.53.

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.