Insigneo Advisory Services LLC Sells 3,949 Shares of Shopify Inc. (NYSE:SHOP)

Insigneo Advisory Services LLC cut its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,657 shares of the software maker's stock after selling 3,949 shares during the period. Insigneo Advisory Services LLC's holdings in Shopify were worth $2,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allianz SE bought a new position in Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC boosted its holdings 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 during the last quarter. Mark Sheptoff Financial Planning LLC grew 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 valued at $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Shopify during the fourth quarter worth about $39,000. Finally, Mather Group LLC. raised its position in Shopify by 84.8% in 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 during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SHOP shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Piper Sandler raised their target price on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and set a $110.00 price target on shares of Shopify in a research note on Tuesday. Finally, Barclays boosted their price objective on Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.94.

Shopify Price Performance

NYSE SHOP traded down $0.31 on Friday, reaching $83.65. 11,591,792 shares of the company's stock traded hands, compared to its average volume of 9,238,801. The stock has a market cap of $108.31 billion, a PE ratio of 53.97, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The stock has a 50-day simple moving average of $100.46 and a 200 day simple moving average of $101.46.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its 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 return on equity of 12.00% and a net margin of 22.74%. As a group, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.