RiverPark Advisors LLC trimmed its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 27.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,773 shares of the software maker's stock after selling 9,163 shares during the quarter. Shopify comprises 1.9% of RiverPark Advisors LLC's investment portfolio, making the stock its 16th biggest position. RiverPark Advisors LLC's holdings in Shopify were worth $2,634,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC purchased a new position in shares of Shopify during the 4th quarter worth $132,323,000. Watts Gwilliam & Co. LLC raised its stake in shares of Shopify by 53.0% during the fourth 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 in the last quarter. Synovus Financial Corp bought a new stake in Shopify during the third quarter worth approximately $481,000. Western Financial Corp CA purchased a new position in Shopify during the 4th quarter worth approximately $239,000. Finally, Kessler Investment Group LLC acquired a new stake in Shopify during the fourth quarter valued at $6,105,000. Institutional investors and hedge funds own 69.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Shopify from $121.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a "buy" 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. The Goldman Sachs Group lowered their price target on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler boosted their price target on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average target price of $119.67.
View Our Latest Stock Analysis on Shopify
Shopify Trading Up 2.1 %
SHOP stock traded up $2.00 during mid-day trading on Friday, hitting $97.12. 7,818,257 shares of the company were exchanged, compared to its average volume of 9,286,129. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The business has a 50 day simple moving average of $96.79 and a 200-day simple moving average of $101.92. The stock has a market capitalization of $125.75 billion, a PE ratio of 62.66, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted 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 return on equity of 12.00% and a net margin of 22.74%. Equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.
About Shopify
(
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.
Further Reading
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