Oxinas Partners Wealth Management LLC Decreases Stake in Shopify Inc. (NYSE:SHOP)

Oxinas Partners Wealth Management LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,133 shares of the software maker’s stock after selling 340 shares during the period. Oxinas Partners Wealth Management LLC’s holdings in Shopify were worth $251,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group increased its holdings in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify in the second quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC grew its holdings in Shopify by 53.3% during the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after purchasing an additional 180 shares during the period. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SHOP shares. Argus raised Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Robert W. Baird upped their price objective on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Shopify in a research report on Tuesday, September 10th. Morgan Stanley raised their price objective on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Barclays lifted their price objective on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.97.

Shopify Stock Down 2.1 %

Shares of NYSE SHOP opened at $81.94 on Wednesday. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The firm has a market capitalization of $105.59 billion, a PE ratio of 83.61, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. The firm has a fifty day simple moving average of $75.37 and a two-hundred day simple moving average of $68.72. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

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

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.