Beacon Capital Management LLC Lowers Stock Position in Shopify Inc. (NYSE:SHOP)

Beacon Capital Management LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,201 shares of the software maker’s stock after selling 425 shares during the period. Beacon Capital Management LLC’s holdings in Shopify were worth $340,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify during the 4th quarter valued at about $39,000. Mather Group LLC. grew its holdings in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group acquired a new stake in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Shopify during the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 price target on shares of Shopify in a report on Wednesday. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Monday, February 10th. TD Securities lifted their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Finally, CIBC lifted their price target on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have issued 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.21.

Shopify Trading Up 0.6 %

Shares of SHOP stock opened at $128.36 on Friday. The stock has a market capitalization of $165.85 billion, a P/E ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $128.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a 50 day moving average price of $111.90 and a 200 day moving average price of $92.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities research analysts predict that Shopify Inc. will post 0.91 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.