SWS Partners Decreases Stake in Shopify Inc. (NYSE:SHOP)

SWS Partners cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 37.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,257 shares of the software maker’s stock after selling 9,215 shares during the period. SWS Partners’ holdings in Shopify were worth $1,622,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. New Wave Wealth Advisors LLC purchased a new stake in Shopify in the 4th quarter valued at $39,000. Mather Group LLC. grew its holdings in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group acquired a new stake in Shopify during the third quarter worth about $33,000. Sierra Ocean LLC purchased a new position in Shopify during the fourth quarter worth about $46,000. Finally, Synergy Asset Management LLC acquired a new position in Shopify in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. DA Davidson raised their target price on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 target price on shares of Shopify in a research report on Wednesday, February 12th. Scotiabank increased their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Down 5.1 %

Shares of SHOP opened at $106.25 on Tuesday. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a 50 day moving average price of $112.82 and a 200 day moving average price of $97.34. The company has a market capitalization of $137.57 billion, a price-to-earnings ratio of 68.55, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47.

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%. On average, equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.