Guardian Asset Advisors LLC Cuts Stock Position in Shopify Inc. $SHOP

Guardian Asset Advisors LLC decreased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 48.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,722 shares of the software maker’s stock after selling 5,375 shares during the period. Guardian Asset Advisors LLC’s holdings in Shopify were worth $850,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SHOP. Heartwood Wealth Advisors LLC purchased a new position in shares of Shopify in the third quarter valued at approximately $27,000. Rothschild Investment LLC lifted its holdings in Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in Shopify in the 2nd quarter valued at approximately $27,000. Tradewinds Capital Management LLC grew its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of Shopify during the second quarter worth $29,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 0.2%

SHOP opened at $137.89 on Monday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The business’s 50 day moving average is $159.00 and its two-hundred day moving average is $150.76. The firm has a market cap of $179.51 billion, a price-to-earnings ratio of 102.14, a price-to-earnings-growth ratio of 4.08 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent research reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $198.00 price objective (up previously from $125.00) on shares of Shopify in a research note on Wednesday, December 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $181.00 price target (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Shopify in a research report on Wednesday, January 7th. KeyCorp lifted their price objective on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley restated an “overweight” rating and issued a $192.00 price target (up from $165.00) on shares of Shopify in a research note on Wednesday, November 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.61.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.