Shopify Inc. (NYSE:SHOP) Stock Holdings Lessened by Delta Financial Group Inc.

Delta Financial Group Inc. cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,261 shares of the software maker’s stock after selling 518 shares during the period. Delta Financial Group Inc.’s holdings in Shopify were worth $240,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC increased its holdings in Shopify by 3.9% in the fourth quarter. Wealthspire Advisors LLC now owns 14,677 shares of the software maker’s stock worth $1,561,000 after buying an additional 545 shares during the last quarter. Olympiad Research LP bought a new stake in Shopify in the fourth quarter worth $321,000. Sigma Planning Corp increased its position in Shopify by 3.0% during the fourth quarter. Sigma Planning Corp now owns 16,410 shares of the software maker’s stock worth $1,745,000 after buying an additional 471 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in Shopify during the fourth quarter valued at about $124,000. Finally, Lane & Associates LLC acquired a new stake in shares of Shopify in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE SHOP opened at $115.40 on Monday. The stock’s 50 day simple moving average is $112.85 and its 200 day simple moving average is $95.60. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm has a market cap of $149.42 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday, February 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Finally, Loop Capital raised Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. One equities research 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 company’s stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.