Shopify Inc. (NYSE:SHOP) Shares Sold by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 18.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,571 shares of the software maker’s stock after selling 55,429 shares during the quarter. Shopify accounts for about 2.7% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 4th largest holding. Nicola Wealth Management LTD.’s holdings in Shopify were worth $25,580,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SHOP. Baillie Gifford & Co. lifted its holdings in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. FMR LLC lifted its holdings in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. National Bank of Canada FI lifted its holdings in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Shopify by 52.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,848,143 shares of the software maker’s stock worth $308,390,000 after purchasing an additional 1,325,350 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Shopify in the 4th quarter worth approximately $132,323,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP stock opened at $106.25 on Tuesday. The firm has a market cap of $137.57 billion, a price-to-earnings ratio of 68.55, a P/E/G ratio of 4.82 and a beta of 2.47. The stock’s fifty day simple moving average is $112.82 and its 200 day simple moving average is $97.34. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. ATB Capital boosted their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Moffett Nathanson boosted their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.