Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 176 Shares of Shopify Inc. (NYSE:SHOP)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,560 shares of the software maker’s stock after selling 176 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Shopify were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHOP. PFG Private Wealth Management LLC increased its holdings in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Brooklyn Investment Group bought a new stake in Shopify during the third quarter worth $33,000. New Wave Wealth Advisors LLC bought a new stake in Shopify during the fourth quarter worth $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% during the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after buying an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Shopify during the third quarter worth $45,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHOP shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price target on shares of Shopify in a report on Wednesday, February 12th. Scotiabank upped 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. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Oppenheimer boosted their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Moffett Nathanson boosted their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One investment 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

NYSE:SHOP opened at $100.00 on Friday. The firm has a market cap of $129.48 billion, a price-to-earnings ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.47. The business’s fifty day moving average is $112.26 and its 200 day moving average is $97.80. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results 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 return on equity of 12.00% and a net margin of 22.74%. Equities analysts predict 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.