Trillium Asset Management LLC Reduces Position in Shopify Inc. (NYSE:SHOP)

Trillium Asset Management LLC reduced its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 222,231 shares of the software maker’s stock after selling 27,885 shares during the period. Trillium Asset Management LLC’s holdings in Shopify were worth $23,630,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. FMR LLC boosted its holdings in shares of Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Shopify by 6.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,211,511 shares of the software maker’s stock valued at $658,248,000 after acquiring an additional 484,561 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Shopify by 30.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after purchasing an additional 1,647,374 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Shopify by 9.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock valued at $432,573,000 after purchasing an additional 471,280 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Down 2.8 %

Shares of SHOP opened at $93.90 on Wednesday. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38. The firm has a 50-day moving average price of $110.27 and a 200 day moving average price of $99.08. The firm has a market capitalization of $121.58 billion, a P/E ratio of 60.58, a P/E/G ratio of 4.82 and a beta of 2.60.

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 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%. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHOP. CIBC boosted their target price on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. DA Davidson boosted their target price on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Scotiabank boosted their target price on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research note on Thursday, December 12th. Finally, Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently 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.