Sandy Spring Bank Sells 310 Shares of Shopify Inc. (NYSE:SHOP)

Sandy Spring Bank reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,565 shares of the software maker’s stock after selling 310 shares during the quarter. Sandy Spring Bank’s holdings in Shopify were worth $356,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SHOP. Fairfield Bush & CO. bought a new position in shares of Shopify in the first quarter valued at approximately $169,000. Raymond James Trust N.A. grew its stake in Shopify by 26.5% in the 1st quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock worth $510,000 after buying an additional 158 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Shopify by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock worth $20,391,000 after buying an additional 592 shares in the last quarter. Cetera Investment Advisers grew its stake in Shopify by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock worth $3,107,000 after buying an additional 527 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Shopify by 89.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock worth $295,000 after buying an additional 206 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SHOP shares. Robert W. Baird boosted their price target on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Piper Sandler reissued an “underweight” rating and issued a $63.00 price target on shares of Shopify in a research note on Thursday. Wedbush reissued a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, DA Davidson boosted their price objective on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Hold” and a consensus target price of $77.38.

Shopify Stock Down 2.2 %

NYSE:SHOP opened at $69.99 on Friday. The firm’s 50-day moving average price is $77.97 and its 200-day moving average price is $71.28. The company has a market capitalization of $90.05 billion, a PE ratio of 777.75 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify Inc. has a 1-year low of $45.11 and a 1-year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities analysts predict that Shopify Inc. will post 0.57 EPS for the current fiscal year.

About Shopify

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.