Financial Counselors Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,492 shares of the software maker's stock after selling 5,234 shares during the period. Financial Counselors Inc.'s holdings in Shopify were worth $7,602,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Shopify during the 3rd quarter worth about $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the fourth quarter worth about $39,000. Finally, Mather Group LLC. raised its position in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SHOP has been the topic of a number of analyst reports. Piper Sandler raised their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. DA Davidson lifted their price objective on Shopify from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Scotiabank increased their target price on Shopify from $115.00 to $120.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Oppenheimer lifted their price target on Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, New Street Research began coverage on shares of Shopify in a report on Friday, January 10th. They set a "neutral" rating and a $115.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $126.31.
Check Out Our Latest Research Report on SHOP
Shopify Stock Performance
Shares of NYSE:SHOP traded down $6.01 during midday trading on Friday, reaching $96.51. The company had a trading volume of 13,198,615 shares, compared to its average volume of 8,764,471. The company has a fifty day simple moving average of $110.21 and a two-hundred day simple moving average of $100.78. The firm has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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%. Analysts expect that Shopify Inc. will post 1.12 EPS for the current year.
Shopify Company Profile
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Free Report)
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.
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