Nemes Rush Group LLC Sells 1,019 Shares of Shopify Inc. (NYSE:SHOP)

Nemes Rush Group LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,566 shares of the software maker’s stock after selling 1,019 shares during the quarter. Nemes Rush Group LLC’s holdings in Shopify were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SHOP. Allianz SE acquired a new stake in shares of Shopify during the 4th quarter worth $27,000. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. raised its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Phillip Securities lowered shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their target price on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 2.3 %

Shares of SHOP stock opened at $97.64 on Wednesday. The firm has a 50 day moving average of $109.88 and a 200-day moving average of $101.33. The company has a market cap of $126.43 billion, a price-to-earnings ratio of 62.99, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly 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 net margin of 22.74% and a return on equity of 12.00%. Analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify 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.