Lbp Am Sa Sells 25,207 Shares of Shopify Inc. (NYSE:SHOP)

Lbp Am Sa trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,793 shares of the software maker’s stock after selling 25,207 shares during the period. Lbp Am Sa’s holdings in Shopify were worth $19,968,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SHOP. PFG Private Wealth Management LLC grew its stake in Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Brooklyn Investment Group bought a new position in Shopify in the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter worth about $39,000. Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Shopify in the 3rd quarter worth about $45,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SHOP shares. Royal Bank of Canada upped their target price 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. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Moffett Nathanson upped their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Down 6.2 %

Shares of Shopify stock opened at $90.51 on Friday. The firm has a market cap of $117.19 billion, a PE ratio of 58.39, a P/E/G ratio of 4.82 and a beta of 2.60. The business has a 50-day moving average price of $111.17 and a 200 day moving average price of $98.29. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 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%. On average, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current 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.