Shopify Inc. (NYSE:SHOP) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.4% in the fourth quarter, HoldingsChannel reports. The fund owned 55,849 shares of the software maker’s stock after selling 1,395 shares during the quarter. Private Advisor Group LLC’s holdings in Shopify were worth $5,938,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SHOP. Brooklyn Investment Group acquired a new position in shares of Shopify in the third quarter worth about $33,000. Rosenberg Matthew Hamilton raised its position in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify in the fourth quarter worth about $39,000. Mather Group LLC. raised its position in shares of 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 acquired a new position in shares of Shopify in the third quarter worth about $45,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP stock opened at $115.40 on Friday. The firm’s 50 day moving average price is $112.85 and its 200-day moving average price is $95.10. Shopify Inc. has a one year low of $48.56 and a one year high of $129.38. The firm has a market cap of $149.10 billion, a P/E ratio of 74.45, a P/E/G ratio of 4.98 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 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, research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on SHOP shares. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. Mizuho upped their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays upped their price target on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, CIBC upped their price target on shares of Shopify from $135.00 to $160.00 and gave the stock an “outperform” 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 assigned a strong buy rating to the company. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $126.31.

About Shopify

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.