Viawealth LLC Has $861,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Viawealth LLC trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,099 shares of the software maker’s stock after selling 750 shares during the quarter. Viawealth LLC’s holdings in Shopify were worth $861,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. PFG Private Wealth Management LLC boosted its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. boosted its position in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares in the last quarter. Brooklyn Investment Group bought a new stake in Shopify during the third quarter worth about $33,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Shopify during the fourth quarter worth approximately $46,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Up 8.2 %

SHOP stock opened at $101.69 on Thursday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The firm has a market cap of $131.66 billion, a PE ratio of 65.60, a P/E/G ratio of 4.82 and a beta of 2.60. The business’s 50-day moving average price is $110.15 and its two-hundred day moving average price is $99.10.

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

Analyst Upgrades and Downgrades

SHOP has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Shopify in a report on Tuesday, February 11th. DA Davidson boosted their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Moffett Nathanson lifted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Monday, February 10th. Finally, ATB Capital raised their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.