Forte Capital LLC ADV Trims Stake in Shopify Inc. (NYSE:SHOP)

Forte Capital LLC ADV reduced its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,401 shares of the software maker’s stock after selling 760 shares during the quarter. Forte Capital LLC ADV’s holdings in Shopify were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Shopify during the 3rd quarter worth $33,000. Rosenberg Matthew Hamilton increased its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the 4th quarter valued at $39,000. Mather Group LLC. increased its holdings in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after acquiring an additional 184 shares during the period. Finally, Truvestments Capital LLC purchased a new position in shares of Shopify in the 3rd quarter valued at $45,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. TD Securities lifted their price target on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Barclays raised their price objective on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, UBS Group raised their price objective on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. One 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’s stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

SHOP stock opened at $115.40 on Friday. The business has a 50 day simple moving average of $112.85 and a 200-day simple moving average of $95.10. The firm has a market capitalization of $149.10 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 4.98 and a beta of 2.47. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities research 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.