Sapient Capital LLC Has $282,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Sapient Capital LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 40.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,656 shares of the software maker’s stock after selling 2,470 shares during the period. Sapient Capital LLC’s holdings in Shopify were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

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

Shopify Trading Down 3.2 %

Shopify stock traded down $2.30 during trading hours on Tuesday, reaching $70.19. 8,240,011 shares of the company’s stock were exchanged, compared to its average volume of 9,333,998. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $74.93 and its 200 day simple moving average is $73.02. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The firm has a market capitalization of $90.30 billion, a PE ratio of 779.92 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its 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. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Research analysts predict that Shopify Inc. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. UBS Group raised their target price on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group lifted their price objective on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Truist Financial lifted their price objective on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 12th. National Bankshares lifted their price objective on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Piper Sandler reiterated an “underweight” rating and issued a $63.00 price objective on shares of Shopify in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Shopify currently has a consensus rating of “Hold” and an average target price of $78.62.

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.