Level Four Advisory Services LLC Sells 239 Shares of Shopify Inc. (NYSE:SHOP)

Level Four Advisory Services LLC decreased its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,554 shares of the software maker’s stock after selling 239 shares during the period. Level Four Advisory Services LLC’s holdings in Shopify were worth $3,568,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SHOP. Norges Bank acquired a new position in shares of Shopify in the fourth quarter valued at approximately $1,542,262,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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. National Bank of Canada FI grew its holdings in 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 buying an additional 1,621,981 shares in the last quarter. Jennison Associates LLC bought a new position in Shopify during the 4th quarter worth $132,323,000. Finally, Congress Asset Management Co. acquired a new stake in shares of Shopify during the fourth quarter worth $84,074,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on SHOP shares. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Monday, February 10th. TD Securities increased their price target on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. UBS Group lifted their price objective on Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. 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 stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

SHOP stock opened at $96.51 on Friday. The company’s 50-day moving average is $110.21 and its 200-day moving average is $100.55. The stock has a market capitalization of $124.96 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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, analysts anticipate that Shopify Inc. will post 1.12 earnings per share 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.