Shopify Inc. (NYSE:SHOP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,203 shares of the software maker’s stock after selling 355 shares during the period. First Horizon Advisors Inc.’s holdings in Shopify were worth $327,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. StoneCrest Wealth Management Inc. purchased a new stake in Shopify during the fourth quarter worth approximately $1,164,000. Asset Management One Co. Ltd. boosted its holdings in shares of Shopify by 4,007.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after buying an additional 34,624 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Shopify in the 4th quarter valued at $433,000. Bleakley Financial Group LLC raised its stake in Shopify by 18.5% during the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,681 shares in the last quarter. Finally, Advisor Resource Council acquired a new position in Shopify in the fourth quarter valued at $1,488,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NYSE SHOP opened at $74.46 on Monday. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $74.73 and its 200 day moving average price is $73.42. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The stock has a market cap of $95.80 billion, a price-to-earnings ratio of 827.43 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SHOP. Truist Financial upped their target price on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 12th. CIBC increased their price objective on Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Barclays lowered their target price on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 14th. Robert W. Baird upped their price target on shares of Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Roth Capital raised their price objective on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.00.

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.