M&T Bank Corp Has $4.45 Million Stock Position in Shopify Inc. (NYSE:SHOP)

M&T Bank Corp reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,816 shares of the software maker’s stock after selling 235 shares during the period. M&T Bank Corp’s holdings in Shopify were worth $4,447,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Howland Capital Management LLC raised its holdings in Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after buying an additional 99 shares during the period. Trust Co. of Vermont raised its holdings in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares during the period. First United Bank & Trust raised its holdings in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after purchasing an additional 105 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock valued at $357,000 after purchasing an additional 107 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 2.4 %

Shares of SHOP stock opened at $100.00 on Friday. The company has a market cap of $129.48 billion, a price-to-earnings ratio of 64.52, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The firm has a 50 day moving average of $112.26 and a 200-day moving average of $97.80.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SHOP shares. Scotiabank lifted their price objective on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays lifted their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, CIBC lifted their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target 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.