DORCHESTER WEALTH MANAGEMENT Co lowered its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 36.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 950 shares of the software maker’s stock after selling 550 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Shopify were worth $286,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Executive Wealth Management LLC lifted its stake in shares of Shopify by 34.6% in the 1st quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Nadler Financial Group Inc. lifted its stake in shares of Shopify by 1.2% in the 2nd quarter. Nadler Financial Group Inc. now owns 3,985 shares of the software maker’s stock valued at $1,196,000 after purchasing an additional 46 shares during the period. Welch & Forbes LLC increased its position in shares of Shopify by 3.4% in the 2nd quarter. Welch & Forbes LLC now owns 1,500 shares of the software maker’s stock valued at $450,000 after buying an additional 50 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Shopify by 39.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 191 shares of the software maker’s stock valued at $57,000 after buying an additional 54 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its position in shares of Shopify by 11.1% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 562 shares of the software maker’s stock valued at $170,000 after buying an additional 56 shares in the last quarter. 67.81% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the stock. KeyCorp restated an “overweight” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Shopify in a research report on Monday, July 8th. Goldman Sachs Group assumed coverage on shares of HubSpot in a research report on Friday, June 7th. They issued a “buy” rating and a $223.00 price objective for the company. Wedbush cut shares of Shopify from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 25th. Barclays upped their price objective on shares of from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the company an “equal weight” rating in a research report on Friday, June 21st. Finally, Wells Fargo & Co lowered their price objective on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $304.25.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, April 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.44. The firm had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The company’s revenue was up 49.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, equities analysts expect that Shopify Inc will post -0.78 earnings per share for the current year.
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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