Aquatic Capital Management LLC Sells 113,899 Shares of Shopify Inc. (NYSE:SHOP)

Aquatic Capital Management LLC lessened its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 31.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,401 shares of the software maker's stock after selling 113,899 shares during the quarter. Shopify accounts for approximately 0.7% of Aquatic Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Aquatic Capital Management LLC's holdings in Shopify were worth $25,881,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allianz SE bought a new stake in shares of Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC raised its position in Shopify by 3,657.1% during the fourth 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. Mark Sheptoff Financial Planning LLC raised its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. raised its position in Shopify by 84.8% during the fourth 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. Institutional investors own 69.27% of the company's stock.

Shopify Stock Up 1.5 %

Shares of NYSE:SHOP traded up $1.45 during trading on Monday, hitting $98.57. 5,888,196 shares of the company were exchanged, compared to its average volume of 9,272,555. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The company has a market capitalization of $127.63 billion, a P/E ratio of 63.59, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The business's 50 day moving average is $96.21 and its 200-day moving average is $102.16.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Shopify from $144.00 to $106.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Oppenheimer upped their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Royal Bank of Canada dropped their price target on shares of Shopify from $145.00 to $125.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. National Bankshares dropped their price objective on shares of Shopify from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Truist Financial increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $118.83.

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.