Marcho Partners LLP lessened its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 43.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,956 shares of the software maker's stock after selling 207,357 shares during the quarter. Shopify accounts for 7.8% of Marcho Partners LLP's investment portfolio, making the stock its 5th largest position. Marcho Partners LLP's holdings in Shopify were worth $29,130,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Allianz SE purchased a new stake in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC lifted its stake in shares of Shopify by 3,657.1% during the 4th 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 in the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% during the 4th 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 in the last quarter. New Wave Wealth Advisors LLC bought a new position in Shopify in the 4th quarter worth approximately $39,000. Finally, Mather Group LLC. grew its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker's stock valued at $43,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Analyst Ratings Changes
SHOP has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. UBS Group upped their price target on Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. ATB Capital boosted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their target price on shares of Shopify from $110.00 to $130.00 and gave the stock a "hold" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price objective on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.
Check Out Our Latest Stock Analysis on SHOP
Shopify Stock Performance
SHOP opened at $76.89 on Friday. The stock has a market capitalization of $99.56 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. The stock's 50 day moving average price is $108.67 and its 200-day moving average price is $101.22. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38.
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 (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal 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.
Further Reading
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