Crestwood Advisors Group LLC Lowers Stake in Shopify Inc. (NYSE:SHOP)


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Crestwood Advisors Group LLC cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,790 shares of the software maker’s stock after selling 396 shares during the period. Crestwood Advisors Group LLC’s holdings in Shopify were worth $7,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Harrington Investments INC grew its holdings in Shopify by 1.9% during the 4th quarter. Harrington Investments INC now owns 489 shares of the software maker’s stock valued at $554,000 after buying an additional 9 shares in the last quarter. CNB Bank grew its position in shares of Shopify by 9.9% during the third quarter. CNB Bank now owns 111 shares of the software maker’s stock valued at $113,000 after purchasing an additional 10 shares in the last quarter. Congress Park Capital LLC lifted its position in shares of Shopify by 4.9% in the fourth quarter. Congress Park Capital LLC now owns 216 shares of the software maker’s stock worth $245,000 after buying an additional 10 shares in the last quarter. Clarius Group LLC boosted its stake in Shopify by 4.8% during the fourth quarter. Clarius Group LLC now owns 241 shares of the software maker’s stock valued at $273,000 after buying an additional 11 shares during the last quarter. Finally, Ausdal Financial Partners Inc. boosted its stake in Shopify by 3.6% during the third quarter. Ausdal Financial Partners Inc. now owns 344 shares of the software maker’s stock valued at $352,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 56.89% of the company’s stock.

Shares of SHOP traded down $97.09 during midday trading on Tuesday, hitting $1,284.21. 114,272 shares of the company’s stock traded hands, compared to its average volume of 1,270,262. The company has a current ratio of 17.87, a quick ratio of 17.87 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $156.56 billion, a price-to-earnings ratio of 811.97, a price-to-earnings-growth ratio of 37.63 and a beta of 1.60. Shopify Inc. has a 1 year low of $305.30 and a 1 year high of $1,499.75. The firm’s fifty day moving average is $1,250.18 and its 200-day moving average is $1,083.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, February 17th. The software maker reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $1.02. The company had revenue of $977.74 million during the quarter, compared to analysts’ expectations of $906.82 million. Shopify had a return on equity of 2.35% and a net margin of 7.99%. On average, equities research analysts anticipate that Shopify Inc. will post 1.49 EPS for the current year.

SHOP has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on Shopify from $1,323.00 to $1,680.00 and gave the company a “buy” rating in a research report on Thursday, February 18th. Canaccord Genuity lifted their price objective on shares of Shopify from $1,000.00 to $1,350.00 and gave the stock a “hold” rating in a research note on Thursday, February 18th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on Shopify from $1,100.00 to $1,300.00 and gave the company an “equal weight” rating in a research report on Thursday, February 18th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on shares of Shopify from $1,290.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Thursday, February 18th. Finally, Truist increased their price target on Shopify from $1,100.00 to $1,475.00 in a report on Thursday, February 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $1,288.67.

Shopify Profile

Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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