B.O.S.S. Retirement Advisors LLC Sells 6,343 Shares of Shopify Inc. (NYSE:SHOP)

B.O.S.S. Retirement Advisors LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,138 shares of the software maker’s stock after selling 6,343 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in Shopify were worth $1,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SHOP. Vident Investment Advisory LLC raised its holdings in shares of Shopify by 5.3% in the 1st quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock worth $447,000 after purchasing an additional 33 shares during the period. Interchange Capital Partners LLC raised its holdings in shares of Shopify by 7.1% in the 1st quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker’s stock worth $345,000 after purchasing an additional 34 shares during the period. Ancora Advisors LLC raised its holdings in shares of Shopify by 6.2% in the 1st quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker’s stock worth $1,302,000 after purchasing an additional 69 shares during the period. SVB Wealth LLC raised its holdings in shares of Shopify by 14.0% in the 1st quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock worth $445,000 after purchasing an additional 81 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of Shopify by 292.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock worth $74,000 after purchasing an additional 82 shares during the period. Institutional investors own 60.28% of the company’s stock.

Shopify Stock Down 1.6 %

Shares of SHOP traded down $1.02 on Friday, hitting $62.38. 8,627,234 shares of the stock traded hands, compared to its average volume of 9,562,695. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.71 and a quick ratio of 6.71. The business has a 50 day simple moving average of $61.68 and a 200 day simple moving average of $56.31. Shopify Inc. has a one year low of $23.63 and a one year high of $71.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 2nd. The software maker reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Shopify had a negative return on equity of 5.36% and a negative net margin of 32.13%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.63 billion. On average, equities analysts forecast that Shopify Inc. will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. DA Davidson lifted their price objective on shares of Shopify from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Piper Sandler boosted their price target on shares of Shopify from $50.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Wedbush initiated coverage on shares of Shopify in a research report on Monday, August 21st. They set an “outperform” rating and a $62.00 price target for the company. Finally, Oppenheimer boosted their price target on shares of Shopify from $70.00 to $80.00 in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.34.

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, 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.