Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Position in Shopify Inc. (NYSE:SHOP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,475 shares of the software maker's stock after selling 22,010 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Shopify were worth $9,301,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Tidemark LLC boosted its position in shares of Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC lifted its position in Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after buying an additional 99 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock valued at $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust grew its position in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after buying an additional 100 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in shares of Shopify by 0.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker's stock worth $1,162,000 after acquiring an additional 105 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

SHOP has been the topic of several research reports. CIBC boosted their price objective on shares of Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated a "neutral" rating and issued a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. TD Securities increased their target price on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Finally, Truist Financial lifted their price target on Shopify from $110.00 to $120.00 and gave the stock a "hold" 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.

Shopify Stock Performance

Shares of SHOP traded down $5.50 during mid-day trading on Wednesday, reaching $104.32. The stock had a trading volume of 7,269,956 shares, compared to its average volume of 8,603,397. The firm has a market cap of $135.07 billion, a price-to-earnings ratio of 67.30, a PEG ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The business has a fifty day moving average of $110.36 and a 200 day moving average of $100.31.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued 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%. On average, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.