Evermay Wealth Management LLC Sells 2,517 Shares of Shopify Inc. (NYSE:SHOP)

Evermay Wealth Management LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 70.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,033 shares of the software maker’s stock after selling 2,517 shares during the period. Evermay Wealth Management LLC’s holdings in Shopify were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group grew its stake in shares of 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 acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Shopify during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Shopify during the second quarter worth $39,000. Finally, GAMMA Investing LLC grew its holdings in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

NYSE:SHOP opened at $80.03 on Thursday. The company has a market cap of $103.13 billion, a P/E ratio of -470.76, a P/E/G ratio of 2.65 and a beta of 2.36. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company’s 50-day moving average price is $77.41 and its 200-day moving average price is $69.25. 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 released 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. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. On average, sell-side analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Citigroup lifted their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Barclays upped their target price on Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, September 17th. Finally, UBS Group upped their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.21.

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.