J.W. Cole Advisors Inc. Sells 2,102 Shares of Shopify Inc. (NYSE:SHOP)

J.W. Cole Advisors Inc. trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,677 shares of the software maker's stock after selling 2,102 shares during the period. J.W. Cole Advisors Inc.'s holdings in Shopify were worth $2,092,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SHOP. Jennison Associates LLC purchased a new stake in Shopify in the 4th quarter worth approximately $132,323,000. Swiss National Bank grew its stake in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker's stock worth $293,507,000 after acquiring an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC boosted its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock valued at $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Shopify by 29.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock valued at $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker's stock valued at $2,693,000 after purchasing an additional 7,027 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 1.3 %

SHOP stock traded down $1.75 during trading hours on Wednesday, hitting $127.57. The company's stock had a trading volume of 5,574,951 shares, compared to its average volume of 7,924,819. The stock has a 50 day moving average price of $112.48 and a two-hundred day moving average price of $94.23. The company has a market capitalization of $164.83 billion, a PE ratio of 82.35, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. Sell-side analysts expect that Shopify Inc. will post 1.11 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Atb Cap Markets downgraded shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 12th. TD Securities boosted their target price on shares of Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Finally, Wedbush reissued an "outperform" rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday, February 11th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.