Bogart Wealth LLC Has $6.58 Million Holdings in Shopify Inc. (NYSE:SHOP)

Bogart Wealth LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,159 shares of the software maker’s stock after selling 9,657 shares during the period. Bogart Wealth LLC’s holdings in Shopify were worth $6,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC bought a new stake in Shopify during the 1st quarter worth about $211,000. Global Assets Advisory LLC bought a new stake in shares of Shopify during the first quarter valued at approximately $2,389,000. Brookstone Capital Management increased its holdings in shares of Shopify by 3.5% in the first quarter. Brookstone Capital Management now owns 7,646 shares of the software maker’s stock valued at $590,000 after purchasing an additional 260 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in Shopify by 5.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,340 shares of the software maker’s stock worth $335,000 after purchasing an additional 219 shares during the last quarter. Finally, Addenda Capital Inc. lifted its holdings in Shopify by 16.9% during the 1st quarter. Addenda Capital Inc. now owns 857,658 shares of the software maker’s stock worth $66,185,000 after buying an additional 123,916 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE SHOP traded down $0.71 on Thursday, hitting $78.95. 2,117,055 shares of the stock were exchanged, compared to its average volume of 9,193,110. The business’s fifty day moving average is $76.94 and its 200 day moving average is $69.00. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a market capitalization of $101.74 billion, a PE ratio of 81.00, a P/E/G ratio of 2.73 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted ($0.08) EPS. Research analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHOP. Truist Financial dropped their target price on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price target on shares of Shopify in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Scotiabank lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.49.

Shopify 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.