Thompson Siegel & Walmsley LLC Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Thompson Siegel & Walmsley LLC cut its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 166,740 shares of the software maker’s stock after selling 2,200 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Shopify were worth $17,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SHOP. Howland Capital Management LLC increased its stake in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust increased its stake in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of SHOP opened at $96.54 on Thursday. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a 50-day moving average of $111.51 and a 200 day moving average of $98.34. The firm has a market capitalization of $125.00 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SHOP shares. Evercore ISI upped their price objective on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. Morgan Stanley increased their price target on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Scotiabank increased their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.