Private Trust Co. NA Sells 183 Shares of Shopify Inc. (NYSE:SHOP)

Private Trust Co. NA decreased its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,671 shares of the software maker’s stock after selling 183 shares during the quarter. Private Trust Co. NA’s holdings in Shopify were worth $922,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in Shopify by 79.9% in the 4th quarter. QRG Capital Management Inc. now owns 5,104 shares of the software maker’s stock valued at $543,000 after buying an additional 2,267 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Shopify by 11.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 320,834 shares of the software maker’s stock valued at $34,114,000 after buying an additional 34,158 shares during the last quarter. Kovack Advisors Inc. increased its stake in Shopify by 14.4% in the 4th quarter. Kovack Advisors Inc. now owns 10,553 shares of the software maker’s stock valued at $1,122,000 after buying an additional 1,331 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Shopify by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 476,240 shares of the software maker’s stock valued at $50,661,000 after buying an additional 11,600 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Shopify in the 4th quarter valued at about $279,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. ATB Capital raised their price target on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price target on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Scotiabank raised their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada raised their price target on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 1.0 %

Shares of SHOP stock opened at $111.97 on Friday. The firm has a market cap of $144.98 billion, a P/E ratio of 72.24, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The business has a 50-day moving average price of $112.88 and a two-hundred day moving average price of $96.75. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results 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 12.00% and a net margin of 22.74%. As a group, research 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.