Good Life Advisors LLC Sells 645 Shares of Shopify Inc. (NYSE:SHOP)

Good Life Advisors LLC cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,431 shares of the software maker’s stock after selling 645 shares during the quarter. Good Life Advisors LLC’s holdings in Shopify were worth $2,172,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Howland Capital Management LLC increased its position in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the last quarter. First United Bank & Trust increased its position in shares of Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Shopify by 3.3% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 0.7 %

Shares of SHOP stock opened at $129.20 on Wednesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The company has a market cap of $166.94 billion, a P/E ratio of 83.35, a P/E/G ratio of 5.06 and a beta of 2.47. The business has a fifty day simple moving average of $112.48 and a 200 day simple moving average of $94.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. ATB Capital boosted their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, CIBC boosted their target price on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Company 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.