Shopify Inc. (NYSE:SHOP) Shares Sold by Centurion Wealth Management LLC

Centurion Wealth Management LLC cut its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 6,236 shares of the software maker’s stock after selling 245 shares during the period. Centurion Wealth Management LLC’s holdings in Shopify were worth $663,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SHOP. GSA Capital Partners LLP acquired a new position in Shopify in the 3rd quarter valued at $1,011,000. Aptus Capital Advisors LLC raised its holdings in Shopify by 5.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker’s stock valued at $486,000 after acquiring an additional 315 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Shopify by 678.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 2,537 shares of the software maker’s stock valued at $203,000 after buying an additional 2,211 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Shopify by 12.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,370 shares of the software maker’s stock valued at $1,552,000 after buying an additional 2,191 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SHOP. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research note on Wednesday, February 12th. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Oppenheimer boosted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank upped their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Performance

Shares of Shopify stock opened at $94.88 on Friday. The firm has a market cap of $122.86 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm’s 50-day simple moving average is $110.88 and its 200-day simple moving average is $98.59.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts predict that Shopify Inc. will post 1.12 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.