Spyglass Capital Management LLC Trims Position in Shift4 Payments, Inc. (NYSE:FOUR)

Spyglass Capital Management LLC trimmed its stake in shares of Shift4 Payments, Inc. (NYSE:FOUR) by 33.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800,320 shares of the company’s stock after selling 403,757 shares during the quarter. Shift4 Payments makes up 4.7% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Spyglass Capital Management LLC’s holdings in Shift4 Payments were worth $70,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Waldron Private Wealth LLC purchased a new stake in Shift4 Payments in the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new stake in Shift4 Payments in the 3rd quarter worth approximately $27,000. Toth Financial Advisory Corp purchased a new stake in Shift4 Payments in the 3rd quarter worth approximately $32,000. Financial Management Professionals Inc. purchased a new stake in Shift4 Payments in the 3rd quarter worth approximately $56,000. Finally, Quarry LP purchased a new stake in Shift4 Payments in the 2nd quarter worth approximately $60,000. 98.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jordan Frankel sold 12,500 shares of Shift4 Payments stock in a transaction on Monday, September 16th. The stock was sold at an average price of $82.57, for a total value of $1,032,125.00. Following the completion of the sale, the insider now owns 228,021 shares of the company’s stock, valued at $18,827,693.97. The trade was a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Nancy Disman sold 20,000 shares of Shift4 Payments stock in a transaction on Friday, September 13th. The stock was sold at an average price of $81.30, for a total value of $1,626,000.00. Following the completion of the sale, the chief financial officer now directly owns 182,959 shares of the company’s stock, valued at $14,874,566.70. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. 30.57% of the stock is currently owned by corporate insiders.

Shift4 Payments Stock Up 2.9 %

Shift4 Payments stock opened at $114.95 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.97 and a debt-to-equity ratio of 2.71. Shift4 Payments, Inc. has a 12 month low of $55.87 and a 12 month high of $115.08. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 62.47, a PEG ratio of 1.43 and a beta of 1.64. The stock has a fifty day simple moving average of $95.67 and a two-hundred day simple moving average of $80.67.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FOUR shares. Wells Fargo & Company increased their price objective on Shift4 Payments from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BTIG Research raised their target price on Shift4 Payments from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays assumed coverage on Shift4 Payments in a research note on Wednesday, October 9th. They issued an “overweight” rating and a $120.00 target price for the company. Morgan Stanley raised their target price on Shift4 Payments from $66.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, William Blair assumed coverage on Shift4 Payments in a research note on Wednesday, September 4th. They issued an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating and eighteen have given a 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 $102.15.

About Shift4 Payments

Shift4 Payments, Inc (NYSE FOUR) provides integrated payment processing and technology solutions in the United States. Its payments platform provides omni-channel card acceptance and processing solutions, including end-to-end payment processing for various payment types; merchant acquiring; proprietary omni-channel gateway; complementary software integrations; integrated and mobile point-of-sale (POS) solutions; security and risk management solutions; and reporting and analytical tools, as well as tokenization, risk management/underwriting, payment device and chargeback management, fraud prevention, and gift card solutions.