EMC Capital Management Sells 4,643 Shares of Shopify Inc. (NYSE:SHOP)

EMC Capital Management decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 62.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,825 shares of the software maker’s stock after selling 4,643 shares during the quarter. EMC Capital Management’s holdings in Shopify were worth $300,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SHOP. Swiss National Bank raised its position in shares of Shopify by 0.9% during the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after buying an additional 33,300 shares during the last quarter. Watts Gwilliam & Co. LLC increased its holdings in Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings 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 purchasing an additional 7,027 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP traded up $0.93 during midday trading on Thursday, hitting $117.52. 345,478 shares of the company were exchanged, compared to its average volume of 5,866,460. The company’s 50 day simple moving average is $109.91 and its 200 day simple moving average is $88.09. The firm has a market capitalization of $151.85 billion, a price-to-earnings ratio of 110.13, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research reports. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and increased their target price for the company from $115.00 to $125.00 in a research report on Monday, January 6th. Scotiabank increased their target price on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Oppenheimer lifted their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of Shopify in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.32.

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.