Brown Advisory Inc. Decreases Position in Shopify Inc. $SHOP

Brown Advisory Inc. lessened its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,744,474 shares of the software maker’s stock after selling 413,606 shares during the quarter. Brown Advisory Inc. owned 0.13% of Shopify worth $280,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. First Affirmative Financial Network raised its position in Shopify by 3.4% in the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after purchasing an additional 75 shares during the period. TBH Global Asset Management LLC raised its position in Shopify by 1.2% in the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares during the period. Smartleaf Asset Management LLC raised its position in Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares during the period. Dynamic Advisor Solutions LLC raised its position in Shopify by 2.6% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after purchasing an additional 80 shares during the period. Finally, Pacific Sage Partners LLC raised its position in Shopify by 3.9% in the 4th quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHOP. Weiss Ratings cut shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $180.00 price objective on shares of Shopify in a research report on Tuesday, May 5th. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Finally, DA Davidson decreased their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Trading Down 2.0%

Shares of SHOP opened at $108.24 on Friday. The firm’s 50-day moving average price is $113.99 and its 200-day moving average price is $131.61. The firm has a market capitalization of $140.46 billion, a price-to-earnings ratio of 107.17, a PEG ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, research analysts forecast that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.