Nichols & Pratt Advisers LLP MA Sells 2,000 Shares of Shopify Inc. (NYSE:SHOP)

Nichols & Pratt Advisers LLP MA decreased its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 40.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the software maker’s stock after selling 2,000 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Shopify were worth $234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its holdings in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. Baldwin Brothers LLC MA lifted its holdings in shares of Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Global Trust Asset Management LLC lifted its holdings in shares of Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Shopify by 1,112.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 606 shares of the software maker’s stock valued at $47,000 after purchasing an additional 556 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $51,000. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SHOP shares. Mizuho decreased their price target on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays decreased their price target on Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday. ATB Capital increased their price target on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Thursday. Finally, StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned 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 $76.86.

Shopify Stock Down 5.0 %

Shares of Shopify stock traded down $3.15 during midday trading on Friday, hitting $59.30. The company had a trading volume of 14,822,285 shares, compared to its average volume of 9,991,106. 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 stock has a market capitalization of $76.29 billion, a P/E ratio of 694.11 and a beta of 2.20. The company has a 50 day moving average of $74.48 and a 200 day moving average of $73.70. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

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 business had revenue of $2.14 billion for 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%. On average, equities analysts predict that Shopify Inc. will post 0.59 earnings per share 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.