Sigma Planning Corp Trims Stake in Shopify Inc. (NYSE:SHOP)

Sigma Planning Corp reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,895 shares of the software maker’s stock after selling 7,169 shares during the quarter. Sigma Planning Corp’s holdings in Shopify were worth $1,238,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $247,000. Verdence Capital Advisors LLC increased its position in shares of Shopify by 16.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,807 shares of the software maker’s stock valued at $608,000 after buying an additional 1,130 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Shopify by 7.7% in the fourth quarter. Lindbrook Capital LLC now owns 6,550 shares of the software maker’s stock valued at $510,000 after buying an additional 471 shares in the last quarter. CRA Financial Services LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $236,000. Finally, Calamos Wealth Management LLC increased its position in shares of Shopify by 31.2% in the fourth quarter. Calamos Wealth Management LLC now owns 33,579 shares of the software maker’s stock valued at $2,616,000 after buying an additional 7,993 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wedbush reiterated a “neutral” rating and set a $68.00 price target on shares of Shopify in a research report on Tuesday, February 13th. Citigroup lowered their price objective on Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. UBS Group boosted their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. The Goldman Sachs Group boosted their price objective on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group boosted their price objective on Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, January 5th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Hold” and a consensus target price of $78.30.

Shopify Trading Up 1.3 %

SHOP opened at $70.57 on Tuesday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a market cap of $90.79 billion, a P/E ratio of 784.20 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The business’s 50-day simple moving average is $75.98 and its 200-day simple moving average is $72.25.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, equities research analysts expect that Shopify Inc. will post 0.58 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.