Farther Finance Advisors LLC Sells 4,260 Shares of Shopify Inc. (NYSE:SHOP)

Farther Finance Advisors LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,887 shares of the software maker's stock after selling 4,260 shares during the period. Farther Finance Advisors LLC's holdings in Shopify were worth $1,370,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares in the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the third quarter worth about $33,000. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter worth about $39,000. Mather Group LLC. lifted its holdings in 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 last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Shopify during the 3rd quarter valued at about $45,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE SHOP traded up $4.29 during mid-day trading on Friday, reaching $94.88. 7,060,413 shares of the company traded hands, compared to its average volume of 8,544,570. The company's fifty day moving average is $110.88 and its two-hundred day moving average is $98.43. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market cap of $122.86 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SHOP shares. Truist Financial boosted their target price on shares of Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Phillip Securities downgraded Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.31.

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.