Harbour Investments Inc. Sells 130 Shares of Shopify Inc. (NYSE:SHOP)

Harbour Investments Inc. decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,958 shares of the software maker’s stock after selling 130 shares during the period. Harbour Investments Inc.’s holdings in Shopify were worth $1,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. FMR LLC raised its stake in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after buying an additional 1,647,374 shares during the period. National Bank of Canada FI raised its stake in Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Shopify by 52.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock valued at $308,390,000 after buying an additional 1,325,350 shares during the period. Finally, Jennison Associates LLC bought a new stake in Shopify in the fourth quarter valued at approximately $132,323,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOP. Wells Fargo & Company upped their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays increased their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Citigroup increased their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada increased their target price on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Up 2.0 %

Shares of NYSE:SHOP opened at $96.78 on Tuesday. The firm has a market cap of $125.31 billion, a P/E ratio of 62.44, a P/E/G 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 business has a fifty day simple moving average of $110.53 and a 200 day simple moving average of $98.94.

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

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.