Shopify Inc. (NYSE:SHOP) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 34.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,739 shares of the software maker’s stock after selling 1,983 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Shopify were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the fourth quarter valued at $39,000. Mather Group LLC. lifted its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter worth about $33,000. Sierra Ocean LLC purchased a new stake in shares of Shopify in the fourth quarter worth about $46,000. Finally, Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during 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. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $113.46 on Thursday. The stock has a market cap of $146.91 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The firm has a 50 day simple moving average of $112.74 and a 200-day simple moving average of $96.35. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 net margin of 22.74% and a return on equity of 12.00%. Equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHOP. Barclays boosted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. KeyCorp lifted their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, ATB Capital increased their target price on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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.