APG Asset Management N.V. Sells 12,795 Shares of Shopify Inc. (NYSE:SHOP)

APG Asset Management N.V. reduced its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,140 shares of the software maker's stock after selling 12,795 shares during the quarter. APG Asset Management N.V.'s holdings in Shopify were worth $6,692,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SHOP. Advisory Services Network LLC lifted its position in Shopify by 7.5% in the 4th quarter. Advisory Services Network LLC now owns 84,086 shares of the software maker's stock valued at $8,941,000 after purchasing an additional 5,854 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $166,811,000. FIL Ltd boosted its position in shares of Shopify by 11.9% during the fourth quarter. FIL Ltd now owns 15,774,148 shares of the software maker's stock worth $1,678,865,000 after buying an additional 1,682,326 shares during the period. Canopy Partners LLC bought a new position in Shopify in the 4th quarter worth approximately $219,000. Finally, Certior Financial Group LLC acquired a new stake in Shopify in the 4th quarter valued at approximately $200,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 1.4 %

NYSE SHOP traded up $1.14 during trading on Tuesday, hitting $83.91. 6,972,794 shares of the company traded hands, compared to its average volume of 9,220,226. The company has a market capitalization of $108.65 billion, a P/E ratio of 54.14, a PEG ratio of 4.82 and a beta of 2.82. The business has a fifty day simple moving average of $103.35 and a 200 day simple moving average of $101.65. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

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Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent analyst reports. Jefferies Financial Group increased their price target on Shopify from $110.00 to $130.00 and gave the stock a "hold" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. TD Securities increased their price target on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Robert W. Baird boosted their price objective on Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Oppenheimer raised their target price on Shopify from $130.00 to $150.00 and gave the company 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.74.

Shopify 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.