RMR Wealth Builders Has $758,000 Stock Position in Shopify Inc. (NYSE:SHOP)

RMR Wealth Builders lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,727 shares of the software maker’s stock after selling 2,960 shares during the period. RMR Wealth Builders’ holdings in Shopify were worth $758,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after acquiring an additional 1,419,749 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.6% in the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock valued at $2,233,344,000 after purchasing an additional 634,883 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Shopify by 4.4% during the third quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock worth $389,052,000 after buying an additional 299,788 shares during the period. Legal & General Group Plc grew its holdings in shares of Shopify by 6.5% during the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after buying an additional 377,901 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Shopify by 78.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after buying an additional 2,113,773 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. UBS Group lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. 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 report on Wednesday, April 3rd. Scotiabank raised their price objective on Shopify from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. Barclays dropped their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $79.00.

Shopify Price Performance

Shares of NYSE:SHOP traded down $14.24 during trading on Wednesday, reaching $62.81. 58,261,614 shares of the company traded hands, compared to its average volume of 9,837,176. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a market capitalization of $80.81 billion, a PE ratio of 697.97 and a beta of 2.20. The company’s 50 day moving average is $74.74 and its two-hundred day moving average is $73.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, sell-side analysts predict that Shopify Inc. will post 0.59 earnings per share for the current 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.