Kimelman & Baird LLC Has $159,000 Stock Position in Shopify Inc. (NYSE:SHOP)

Kimelman & Baird LLC cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 25.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,500 shares of the software maker’s stock after selling 500 shares during the quarter. Kimelman & Baird LLC’s holdings in Shopify were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SHOP. Oppenheimer & Co. Inc. grew its holdings in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after buying an additional 7,027 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Shopify by 12.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,370 shares of the software maker’s stock valued at $1,552,000 after buying an additional 2,191 shares in the last quarter. Empowered Funds LLC grew its holdings in Shopify by 5.7% in the 3rd quarter. Empowered Funds LLC now owns 22,446 shares of the software maker’s stock valued at $1,799,000 after buying an additional 1,211 shares in the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in Shopify in the 3rd quarter valued at $489,000. Finally, Claro Advisors LLC acquired a new position in Shopify in the 3rd quarter valued at $456,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHOP. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Evercore ISI upped their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, ATB Capital upped their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Up 4.7 %

Shares of SHOP stock opened at $94.88 on Monday. The stock has a market cap of $122.86 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 4.82 and a beta of 2.60. The stock has a 50-day moving average of $110.88 and a 200-day moving average of $98.78. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. Sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

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.