Shopify Inc. (NYSE:SHOP) Shares Sold by Twin Peaks Wealth Advisors LLC

Twin Peaks Wealth Advisors LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,680 shares of the software maker’s stock after selling 602 shares during the period. Twin Peaks Wealth Advisors LLC’s holdings in Shopify were worth $391,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its holdings in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares in the last quarter. FMR LLC boosted its holdings in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares in the last quarter. National Bank of Canada FI boosted its holdings 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 worth $593,588,000 after acquiring an additional 1,621,981 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $308,390,000 after acquiring an additional 1,325,350 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Shopify in the fourth quarter worth about $132,323,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. New Street Research assumed coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective for the company. Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $115.45 on Tuesday. The business’s 50 day moving average price is $112.84 and its 200-day moving average price is $95.93. The firm has a market capitalization of $149.48 billion, a PE ratio of 74.48, a P/E/G ratio of 4.82 and a beta of 2.47. 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 (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%. As a group, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company 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.