Tocqueville Asset Management L.P. Reduces Stock Holdings in Shopify Inc. (NYSE:SHOP)

Tocqueville Asset Management L.P. decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,422 shares of the software maker’s stock after selling 17,530 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Shopify were worth $12,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. PFG Private Wealth Management LLC lifted its stake in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the period. Brooklyn Investment Group purchased a new stake in Shopify in the third quarter worth $33,000. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the fourth quarter worth $39,000. Mather Group LLC. lifted its stake 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 during the period. Finally, Truvestments Capital LLC purchased a new stake in Shopify in the third quarter worth $45,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 2.0 %

SHOP stock opened at $96.78 on Tuesday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a market cap of $125.31 billion, a P/E ratio of 62.44, a PEG ratio of 4.82 and a beta of 2.60. The business’s 50-day moving average price is $110.53 and its 200-day moving average price is $98.94.

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

Analyst Ratings Changes

A number of research firms have issued reports on SHOP. Moffett Nathanson increased their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. ATB Capital increased their price objective on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

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.