Gables Capital Management Inc. Sells 400 Shares of Shopify Inc. (NYSE:SHOP)

Gables Capital Management Inc. trimmed its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,450 shares of the software maker’s stock after selling 400 shares during the quarter. Gables Capital Management Inc.’s holdings in Shopify were worth $1,005,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Baillie Gifford & Co. raised its stake in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. FMR LLC raised its stake in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. National Bank of Canada FI raised its stake in shares of Shopify by 28.0% during the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after acquiring an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Shopify in the 4th quarter worth about $132,323,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

NYSE SHOP opened at $92.49 on Tuesday. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a 50 day simple moving average of $111.97 and a two-hundred day simple moving average of $98.24. The stock has a market cap of $119.76 billion, a P/E ratio of 59.67, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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%. Sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SHOP. Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group upped their target price on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 18th. One 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 given a strong buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average 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.