Shopify Inc. (NYSE:SHOP) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,120 shares of the software maker’s stock after selling 3,077 shares during the period. Axxcess Wealth Management LLC’s holdings in Shopify were worth $1,395,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PFG Private Wealth Management LLC boosted its stake in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth $39,000. Mather Group LLC. boosted its stake in Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after purchasing an additional 184 shares during the period. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter worth $33,000. Finally, Sierra Ocean LLC acquired a new stake in Shopify during the 4th quarter worth $46,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP opened at $101.69 on Thursday. The company’s 50 day simple moving average is $110.15 and its 200 day simple moving average is $99.10. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The stock has a market capitalization of $131.66 billion, a PE ratio of 65.60, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its 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 return on equity of 12.00% and a net margin of 22.74%. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on SHOP shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI upped their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. UBS Group upped their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Barclays upped their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

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.