Shopify Inc. (NYSE:SHOP) Stake Lowered by Signaturefd LLC

Signaturefd LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 52,379 shares of the software maker’s stock after selling 110 shares during the quarter. Signaturefd LLC’s holdings in Shopify were worth $5,569,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Brooklyn Investment Group bought a new position in Shopify during the third quarter valued at approximately $33,000. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the fourth quarter valued at approximately $39,000. Mather Group LLC. grew its position in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Shopify during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 4.7 %

Shares of Shopify stock opened at $94.88 on Monday. The stock has a market capitalization of $122.86 billion, a P/E ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The company has a 50-day simple moving average of $110.88 and a 200 day simple moving average of $98.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on SHOP. Royal Bank of Canada upped their price objective on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer increased their price objective on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI boosted their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, TD Securities boosted their price objective on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify 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.