Alerus Financial NA Has $3.20 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Alerus Financial NA lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,137 shares of the software maker’s stock after selling 2,318 shares during the period. Alerus Financial NA’s holdings in Shopify were worth $3,204,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Cerity Partners LLC increased its holdings in shares of Shopify by 35.8% during the third quarter. Cerity Partners LLC now owns 85,993 shares of the software maker’s stock worth $6,891,000 after purchasing an additional 22,667 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Shopify during the third quarter worth $104,000. Dynamic Technology Lab Private Ltd acquired a new position in Shopify in the 3rd quarter worth about $660,000. Brown Brothers Harriman & Co. bought a new position in Shopify in the 3rd quarter valued at approximately $274,000. Finally, Truvestments Capital LLC bought a new stake in shares of Shopify in the third quarter worth $45,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. TD Securities raised their price target on shares of Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Piper Sandler raised their price objective on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. UBS Group raised their price objective on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. CIBC increased their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 1.6 %

NYSE:SHOP opened at $102.64 on Friday. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm’s fifty day simple moving average is $110.35 and its 200 day simple moving average is $100.35. The stock has a market cap of $132.90 billion, a P/E ratio of 66.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. On average, analysts expect 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.