Gilder Gagnon Howe & Co. LLC Sells 85,089 Shares of Shopify Inc. (NYSE:SHOP)

Gilder Gagnon Howe & Co. LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,503,681 shares of the software maker's stock after selling 85,089 shares during the period. Shopify comprises about 1.7% of Gilder Gagnon Howe & Co. LLC's portfolio, making the stock its 12th biggest position. Gilder Gagnon Howe & Co. LLC owned about 0.12% of Shopify worth $159,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE acquired a new stake in shares of Shopify during the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC increased its stake 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 buying an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC increased its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $39,000. Finally, Mather Group LLC. increased its stake 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 period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Up 1.5 %

Shares of SHOP traded up $1.45 during trading hours on Monday, reaching $98.57. The stock had a trading volume of 5,888,196 shares, compared to its average volume of 9,272,555. The firm has a 50-day simple moving average of $96.21 and a 200 day simple moving average of $102.16. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The company has a market capitalization of $127.63 billion, a price-to-earnings ratio of 63.59, a P/E/G ratio of 4.82 and a beta of 2.82.

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 net margin of 22.74% and a return on equity of 12.00%. On average, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Securities upped their price objective on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. UBS Group upped their price objective on Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Truist Financial upped their price objective on Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Jefferies Financial Group upped their price objective on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada lowered their price objective on Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.83.

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.