Shopify Inc. (NYSE:SHOP) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 34.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,200 shares of the software maker’s stock after selling 11,966 shares during the period. UniSuper Management Pty Ltd’s holdings in Shopify were worth $2,467,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $132,323,000. Watts Gwilliam & Co. LLC grew its stake in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares during the last quarter. Wahed Invest LLC lifted its stake in Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock worth $4,618,000 after purchasing an additional 8,960 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Shopify during the 3rd quarter worth approximately $33,676,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SHOP. Wells Fargo & Company increased their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price target on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Morgan Stanley lifted their target price on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Trading Down 5.9 %

Shares of NYSE:SHOP opened at $96.51 on Friday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The company’s 50 day moving average is $110.21 and its two-hundred day moving average is $100.78. The company has a market cap of $124.96 billion, a PE ratio of 62.27, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results 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%. As a group, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

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.